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German insurers expect $502 million in claims from storm Elvira

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German insurance industry body GDV said that the country's insurers expect €450 million ($502 million) worth of claims about from storm Elvira that recently hit the nation, reported Reuters.

The storm passed through Germany from May 27-30, causing significant flooding and property damage. The GDV's claims estimate excludes additional damage done by the storm in North Rhine-Westphalia and Bavaria in subsequent days.

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