Germany's Federal Ministry of Justice and Consumer Protection and Federal Ministry of Finance have jointly developed a proposal to improve insurance coverage for damage caused by extreme natural events. Many residential buildings in Germany lack this coverage, while events such as flooding and heavy rainfall are becoming more frequent and often cause extensive damage. The proposal follows the governing parties' commitment in their coalition agreement to improve protection against these risks.
Germany's Federal Ministry of Justice and Consumer Protection develops joint proposal to improve natural hazard insurance coverage
Germany's Federal Ministry of Justice and Consumer Protection and Federal Ministry of Finance have prepared a joint proposal to improve insurance protection against damage from extreme natural events. The proposal follows a coalition agreement commitment and addresses a gap in coverage affecting many residential buildings.