On Tuesday, German insurer Allianz said it expects insurance claims of more than $589 million (500 million euros) from storm Bernd, which caused massive flooding in parts of western Germany this month.
Allianz’s estimate is the first estimate from a German insurer on potential claims from the flooding which caused houses to collapse, sweeping away cars and stranding residents on top of roofs, resulting in the death of at least 180 people were killed.
Last week, German insurance industry association GDV said insured losses from storm Bernd may amount to 4 billion to 5 billion euros in damages.
The German insurance giant said it has already received insurance claims of around 3,000 vehicles and 10,000 homes, and expects house insurance claims of around 30,000 houses and 5,000 vehicles.
Allianz has 230 claims experts in the affected areas to assess damage. ($1 = 0.8495 euros)