Insured losses from the recent severe floods that struck central Europe, which mainly occurred from September 12-15 are likely to range between EUR 2.0 – 3.0 billion (USD 2.2 – 3.3 billion), according to estimates from reinsurance broker Gallagher Re.
A slow-moving low-pressure system caused continuous rainfall across central Europe, leading to severe and costly flooding, particularly impacting the Czech Republic, Poland, Slovakia, Austria, Hungary, Slovenia, and Romania.
It’s been reported that the floods have resulted in at least 24 fatalities: 10 in Poland, 7 in Romania, 4 in the Czech Republic, and 3 in Austria.
Gallagher Re also noted that hundreds of people have been rescued from rising waters, and thousands across Europe have also been evacuated.
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