According to preliminary data, the insured flood damage in North Rhine-Westphalia and Rhineland-Palatinate is estimated at €4-5 billion. This was reported by the German Association of policyholders GDV.
“Currently, we expect insurance losses in the amount of €4-5 billion,” the publication says.
It is emphasized that the damage from Cyclone Bernd is likely to exceed the damage from the flood in August 2002, which was estimated at €4.65 billion.
Earlier, experts expressed the opinion that it may take several years to restore the areas in the federal states of Rhineland-Palatinate and North Rhine-Westphalia that were affected by the devastating flood.