Insured losses from cat events in Germany hit $4.5 billion

German insurance industry association GDV said that natural catastrophe events in the country caused an estimated €4.3 billion ($4.58 billion) in insured losses this year, Artemis reported. Property insurers are expected to pay out €3 billion for windstorm and hail related losses this year, and a further €400 million for damage caused by other natural hazards such as floods.