German insurance claims for flood damage may be nearly $8 billion: AIR

Insurance claims for flood damage in Germany may be as much as 6 billion euros ($8 billion), catastrophe modeling firm AIR Worldwide said on Thursday, after the worst flooding in a decade. Heavy rainfall in late May and early June drenched Germany, Austria and the Czech Republic in particular, causing widespread flooding, and also affected Switzerland, Hungary, Slovakia and Poland, forcing thousands of people to leave their homes.