Germany estimates losses due to flood

Source : 112 Ukraine

Insurance companies fear possible collapse of the existing natural disasters insurance system
12:13, 20 July 2021

According to initial estimates by German Federal Ministry of Transport and Digital Infrastructure, the transport system damage caused by the devastating flood could be up to two billion euros, as DW reported.

"Particularly, the railway damage costs about 1.3 million euros. In the areas affected by the natural disaster, many train stations were destroyed and flooded," a statement reads.

Roads and highways were also damaged estimating several hundred million euros. In flood areas in Rheinland-Pfalz and Nordrhein-Westfalen, bridges, railways, highways and cell towers must be rebuilt as soon as possible. According to the ministry's document, 300 temporary bridges can be built in crisis regions at the expense of the federal government. In addition, the Deutsche Bahn AG intends to build auxiliary bridges to ensure uninterrupted railway communication.

Related: 183 people became victims of large-scale floods in West Germany, Belgium

The head of the German Insurance Association Jörg Asmussen fears record flood damage. “In the short term, 2021 could be one of the most disruptive years since 2013,” he believes. In 2013, due to floods, hurricanes and cyclones, the amount of insured damage came to 9.3 billion euros. According to him, if the world community fails to achieve the goals of Paris Climate Agreement and does not stop climate change, this will mean the end of the existing natural disasters insurance system.

Earlier, German government planned to allocate more than 300 million euros as immediate aid to flood victims and billions of euros to repair destroyed houses, streets and bridges.

As it was reported earlier, the German government imposed the mode of military disaster due to the extreme floods

It was also reported that more than 1,300 people have gone missing in Germany as a result of the floods. Rheinland-Pfalz and Nordrhein-Westfalenmost had most of the losses and human casualties.

Related: Scientists: Flooding in Western Europe is consequence of global warming

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