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Insured loss from North Rhine-Westphalia & Rhineland-Palatinate floods at €4-5bn: GDV

The devastating flooding experienced in the German states of North Rhine-Westphalia and Rhineland-Palatinate is expected to drive insurance and reinsurance industry losses of between €4 billion and €5 billion, according to the German Insurance Association (GDV).

Last week’s flooding impacted parts of Central and Western Europe, including Belgium, the Netherlands, and Switzerland, although Germany remains the worst affected region.

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