The German Insurance Association (GDV) is using the fifth anniversary of the Ahr Valley flood as an occasion to warn against underestimating elementary damage. The catastrophe of July 2021 was not a singular event, but rather an indicator of rising climate risks in Germany.
Core problem: Millions of households and business operators are still not or insufficiently insured against elementary damage. The GDV points out that flooding, heavy rainfall, and inundations are no longer a regional phenomenon in many places, but are affecting regions that previously considered themselves safe.
For insurers and brokers, the message has practical consequences: customer advisory services on elementary protection become a standard task. For property owners and business operators, this means critically reviewing exposures and policies – especially before new construction or existing property financing. The GDV's wake-up call thus addresses not only insurance companies, but the entire value chain of the residential and commercial real estate market.
