Extreme weather drives insurers' losses in Germany
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Experts said that insurers are paying more for extreme weather-related events in Germany due to increasing frequency of sudden convective storms in the region, Bloomberg reported. Ernst Rauch, chief climatologist at Germany-based Munich Reinsurance Co. said that hundreds of strong thunderstorms can develop over one to three days and damage power lines, property and infrastructure. Several German companies including automaker Daimler A.G. and rail operator Deutsche Bahn A.G. are setting up measures to protect operations from unexpected convective storms.
