Status: 10.01.2022 1:21 p.m.
Thousands of houses were destroyed by flash floods in July, especially in the Ahr Valley. According to Munich Re, this was Germany’s most expensive natural disaster to date. Many injured people are still waiting for help despite being insured.
By Christin Jordan and Verа Schmidberger, SWR
“How did it come about?” “Not much,” says Marion Wenzel, pointing to the walls in her hallway in Bad Neuehr. The floor has been blown up, with chipped plaster and open pipes. “However, everything is missing on the ground floor.” There isn’t even a heater in my room. I don’t have permission for any of the stories. “
Verа Schmidberger bears the SWR logo.
Natural disasters are covered by your insurance. Just two weeks after the disaster, an expert came to assess the massive damage. Wenzel managed the craftsmen, arranged cost estimates and sent the documents to the insurance company. The offers were rejected without giving a reason.
As a result, Marion Wenzel is unable to hire a company without first obtaining approval and accepting the assumption of costs. “I then spent my own money to have at least one heater installed on the upper floor.” The day before Christmas Eve, the craftsmen stayed until 9 p.m. With the approval process taking so long, I’m not sure what I paid all that money for. “
Many insurance companies are unprepared for the massive damage caused by the flood disaster in the Ahr valley.
22:15, 10.1.2022, Christin Jordan, SWR, Tagesthemen
Natural disasters have cost the world economy the most money of all time.
Overall, the devastating flash flood in connection with hail damage from early summer 2021 led to the highest damage ever occurred in Germany. According to Jörg Asmussen, General Manager of the German Insurance Association (GDV), “2021 will be the most expensive year for natural hazards since statistics began in the early 1970s” with insured damage to vehicles, houses and household items of around 12.5 billion euros.
The floods on the Ahr and Erft last summer, which caused 8.2 billion euros in insurance damage, primarily to residential buildings, household effects and businesses. In the meantime, the insurers have paid out just over three billion euros in damages.
Munich Re’s natural catastrophe balance sheet is now available for inspection.
Tamаrа Link, BR, daily news 12:00 p.m., 10.1.2022
That’s just the damage that needs to be covered by insurance. The true extent of the devastation is much greater. The reinsurer Munich Re announced in its annual balance sheet that the flood disaster in Germany caused damage of 33 billion euros, making it Germany’s most expensive natural disaster to date.
Reinsurers: Expensive dynamics
Munich Re and other reinsurers only act as secondary insurers in loss situations, i.e. as insurers for primary insurers. This means that spreading large risks across multiple insurance companies can make them financially viable.
The great dynamism of changes in thе loss amounts, оn Ernst Rauch, chief climatologist at Munich Re. The consequences of thе most recent flood disaster have increased by a factor of four compared to thе most expensive damaging event to date, thе floods оn thе Elbe оf 2002 аnd 2013, аnd cost а two billion euro.
“It is critical that new buildings are not built in designated floodplains, as has happened far too often in the past,” warns Rauch. That cannot be sustained in the long run, because somebody will have to pay compensation at some point. ”According to Rauch, the economic consequences of climate change are a“ grandchildren ”issue because they will also affect future generations.
Compulsory insurance for natural hazards?
The massive damage has revived the debate about compulsory natural disaster insurance. In response to this, the German insurers have proposed an overall strategy for adapting to climate change: “Basically, the GDV proposals provide that in the future there should only be residential building insurances that also include so-called flood protection measures, as the association’s spokesman Asmussen. The aim is to protect all private residential structures from storms.
Marion Wenzel has hired a lawyer to investigate her insurance claims. Markus Gerd Krämmer represents around 60 Ahr Valley customers. “As insurance lawyers in the firm, we noticed that the clerks have simply been overworked.” Routines claimed that no longer correspond to reality are simply carried on. “
Is something going to happen now? Chandler is hopeful, but cautious. Wenzel also hopes to get permits for upcoming work soon so that she can recapture her home.
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