The flooding in southern and eastern Germany and neighboring states in May and June caused insured losses of more than $3.9 billion, according to a global catastrophe losses assessment from Munich Re, and was the most expensive natural catastrophe in the first half of 2013.
“The frequency of flood events in Germany and central Europe has increased by a factor of two since 1980. But particularly with floods, an increased hazard need not necessarily result in higher losses. Such a rise in losses can be prevented by better flood control,” said Torsten Jeworrek, Munich Re board member. “It is therefore important to sharpen risk awareness.”
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