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Storm Friederike causes up to $1 billion in insured losses

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Insurance industry experts said that storm Friederike is likely to have caused up to €800 million ($980 million) in insured losses in Germany, Reuters reported. The storm toppled trees and blew trucks off the road in Germany on Jan. 18. The German insurance association said that the storm caused an estimated €500 million in insured losses, while actuarial firm Meyerthole Siems Kohlruss said that the storm is likely to have caused losses of €800 million.

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