Most damaging natural disasters for the insurance industry in Germany 2022
The German insurance industry has seen its share of expensive natural disasters, but in recent history the flash flood disaster in July 2021 exceeded others recorded since the 2000s. Storm Bernd brought torrents of heavy rainfall to several German states, subsequently leading to rivers overflowing and massively destroying residential areas built near the banks. The flood also claimed lives. Property damage resulted in 9.1 billion euros worth of claims.
Natural Disasters
In the context of global climate change, natural disasters such as floods or extreme droughts are becoming much more common. While Eastern German federal states such as Brandenburg are especially at risk for drought, west and southern Germany are most likely to be affected by flooding.
In 2024, Germany had a flood risk score of 7.8, making it one of the counties most exposed to river floods.
In this climate
With the average temperatures trending upwards for the past 30 years, the 1.5 degree mark has officially been reached in 2024. This leads to a less consistent and mild climate, with higher numbers of hot days and days with heavy rainfall. While the number of days with heavy rainfall is predicted to increase more slowly, the number of hot days is predicted to almost double by 2040 in comparison to the 2000s.
