© Reuters. File photo: On July 20, 2021, damage occurred in an area affected by a flood in Schulder, Germany due to heavy rains. REUTERS/Thilo Schmuelgen/File Photo
MUNICH (Reuters)-German insurance company Allianz (Germany) said on Tuesday that it expects to claim more than 500 million euros ($589 million) from the Bernd Storm, which caused catastrophic flooding in parts of western Germany earlier this month.
This is Germany’s largest insurance company’s first estimate of claims for floods extending from the western city of Cologne to southern Bavaria. The floods caused houses to collapse, residents on roofs were trapped, and cars were washed away. At least 180 people were killed.
The German insurance industry association GDV said last week that insured losses caused by floods in western Germany could total between 4 billion and 5 billion euros.
Allianz said it has received claims for approximately 10,000 houses and 3,000 cars, but expects to receive a total of 30,000 claims for houses and 5,000 cars.
Allianz stated that it has 230 claims experts in the affected areas to assess losses.
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