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Insured losses from German floods to hit over $2 billion

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Flood risk

According to initial estimates by German insurance industry association GDV, insured losses from the recent floods in the states of Bavaria and Baden-Wurttemberg in southern Germany are likely to reach €2 billion ($2.2 billion), Deutsche Welle reported citing AFP. The floods damaged homes, businesses, infrastructure and more than 95,000 hectares of farmland in Baden-Wurttemberg.

 

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