German flood damage insurance claims may reach €3bn

Associated Press: Damage from the past week's flooding in Germany is expected to lead to insurance claims of up to EUR3bn (£2.5bn), a credit rating agency has said, as flood levels on the Elbe river in the country's north appeared to stabilise. Further south, the peak of the flood on the Danube, Europe's second-longest river, moved away from the Hungarian capital, Budapest, toward Serbia. The Elbe, the Danube and other rivers have overflowed their banks following weeks of heavy rain, causing extensive damage......

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