(Reuters) — One year after devastating floods in two western states in Germany, a quarter of the insurance claims are still open, and 40% of the total damages of €8.5 billion ($8.7 billion) have not yet been paid out, insurers said Wednesday.
“For the claims settlement, we draw a positive balance overall, but now the settlement depends on the pace of reconstruction,” said Jörg Asmussen, CEO of the German Insurance Association.
In the cases that are still open, policyholders had in many cases already received compensation for large parts of the damage, he said.
Around 170 people lost their lives in Germany in the floods that followed severe storms in July 2021.
Insurers recorded a total of 213,000 claims, including 40,000 damaged cars and other vehicles, 91,000 damaged residential buildings and 28,000 companies that reported property damage and business interruptions.
