Press review Czech Republic Floods

‘First damage estimates: 20,000,000,000’

Published on 11 June 2013 at 10:20

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As water levels subside, local authorities and insurance companies are starting to count the cost of flood damage.

According to preliminary estimates, this will total around 20 billion crowns (€800m). Floods hit the country on June 2 after nearly a week of heavy rains.
Experts warn that the cost of unisured property damage might be particurarly high this time as cautious insurance companies learned from the past and refused to insure households or even public buildings in flood zones.

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