Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

Best's Commentary: German Insurers Well-Positioned to Respond to Flooding Claims

07/21/2021 | 12:25pm EST

German insurers' disciplined pricing means carriers should be well-positioned to absorb heightened weather-related losses, despite potential record natural catastrophe claims in 2021, according to a new AM Best commentary.

In its new Best’s Commentary, “German Insurers Well-Positioned to Respond to Flooding Claims”, AM Best notes that the record weather-related losses in Germany in 2021 come after previous years of relatively benign claims experience. At this stage, insurance loss estimates caused by Bernd will be driven by how much longer the severe weather conditions continue to cause damage.

AM Best believes these latest events, as well as losses earlier in the year, will reignite debate in Germany about the creation of a state-backed natural catastrophe scheme versus making elemental insurance cover compulsory. Unlike many other European countries, Germany has no such scheme in place and flood risk is excluded from standard industrial, commercial and homeowner policies. While flood cover may be added as an extension (bundled with earthquake, subsidence, landslide, snow pressure and avalanche cover), insurers can be reluctant to accept risks, mainly due to a lack of widespread reinsurance cover.

To access a complimentary copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=310966.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.


ę Business Wire 2021
Latest news "Companies"
01:53pNORTHERN DATA AG : Public Prosecutor's Office Frankfurt a. M. discontinues preliminary investigations regarding allegation of market manipulation
EQ
01:51pStatement by Commissioner Dawn Stump Regarding Recent Joint Statement by the OCC, Federal Reserve & FDIC on Crypto Assets
PU
01:51pNIPPN : Notice Concerning Passing of Representative Director72 KB
PU
01:51pJACOBS ENGINEERING : Beyond COP26
PU
01:51pGENTOR RESOURCES : INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - Form 6-K
PU
01:51p2021-11-29 : Another good quarter at the elder mine with a net profit of $592,932
PU
01:51p2021 - 11 - 29 ASR MEDIA AND SPONSORSHIP S.P.A. : Operating and financial review for the three months ended 30 September 2021
PU
01:49pUser reports indicate t-mobile is having problems - downdetector
RE
01:46pKraft Heinz Completes Sale of Natural Cheese Business to an Affiliate of Groupe Lactalis
BU
01:46pLactalis Closes Acquisition of Kraft Heinz Natural Cheese Business in United States
BU
Latest news "Companies"