Natural hazards cause nearly $1.5 billion of insurance loss in Germany

Source: Business Insurance

August 27, 2019 The German Insurance Association said that natural hazards caused €1.3 billion ($1.45 billion) worth of insurance losses in the first half of the year, Xinhua reports. Damage to residential buildings cost insurers €730 million. Storm and hail damage to houses accounted for the largest share of the loss at €660 million.