AIR latest to issue ~€5bn insured loss figure for German floods

Cat modelling company AIR Worldwide has become the latest industry body to estimate insured losses resulting from the catastrophic flooding in Germany and neighbouring countries in mid-July at ~€5bn ($5.9bn).The catastrophic flooding seen in Germany and neighbouring countries in mid-July could result in an insurance loss approaching €5bn ($5.9bn), according to cat modelling company AIR Worldwide.