Insurers Face Multibillion-Dollar Hit From Europe Flooding

Law360, London (July 20, 2021, 4:33 PM BST) -- Insurers could face billions of dollars in claims from flooding in Germany and other parts of Europe, analysts predict, although losses for the industry losses are likely to be dwarfed by the wider economic toll.  

German investment bank Berenberg said on Monday that reinsurers could face a hit of $2 billion to $3 billion from the heaviest rainfall in a century, which created flooding that swept through Central and Western Europe last week.

More than 180 people have so far been confirmed dead in the disaster, which affected Germany, Switzerland, Belgium, Luxembourg and the Netherlands. Hundreds more remain missing....

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