German floods cause €100m in damages as recoveries begin

At the beginning of June, Germany experienced torrential rains, which caused flooding in the country's south. As the weather began to improve, authorities started to assess the losses, which initial estimates suggest amount to 100 million euros.

The torrential rains that have swept through Germany since the start of June triggered numerous flash floods and inundations, resulting in the deaths of six people, with three still missing, reports "Deutsche Welle". However, the situation is slowly stabilizing, so loss assessments have begun.

"Deutsche Welle" reports that the insurance company R+V has provided the first damage estimates for its clients. "We are expecting damages of about 100 million euros," said a group executive board member, Klaus Endres. He emphasized that the final damage count will take some time. Furthermore, the German Insurance Association anticipates above-average losses.

It is worth recalling that initial estimates before the flooding spoke of amounts reaching billions of euros. This is particularly significant because the floods have most severely affected Bavaria, which is not only the wealthiest but also a crucial agricultural region in Germany. The losses for Bavarian farmers have not yet been calculated.

German Chancellor Olaf Scholz has promised aid to residents of the flooded areas. He assured that federal states would assess losses and organize aid. He also stressed that the federal government and the states must better prepare for such disasters.

Scholz added that improving flood protection by creating polders and retention basins throughout Germany is necessary. He acknowledged that, although these measures are not widespread, they must be undertaken.

Furthermore, Deutsche Welle reports that on June 20th, the Chancellor and the heads of the federal state governments of Germany will meet to discuss natural disaster insurance. Bavarian Prime Minister Markus Soeder demands the introduction of mandatory insurance. "The owners of houses and flats must be able to insure themselves against natural hazards," emphasized Scholz.