Update: Flooding crests, claims handlers move in

On June 4th, flooding in central European rivers began to reach its peak. Eastern and southern Germany, the Czech Republic and large parts of Austria have seen the most water as rains that began in late May finally began to abate. Allianz claims handlers are now going to the affected regions.

 

Fortunately for the people in the region, the flooding does not appear to be on the same scale as in 2002. Allianz is now making every effort to help the families and businesses in difficulty, while it will take some time before the full extent of the damage is known.

 

First rays of sunlight over the Czech Republic

In the Czech Republic, the sun came out on Tuesday, and the waters stayed stable. “Business at Allianz has continued without interruption,” said Bruce Bowers, CEO of the region central and eastern Europe, which includes the Czech Republic. “Now that the rivers have reached their peak, we can start to assess the damage.”

On June 3rd, the Czech unit posted tips for customers and videos of the Vlatava River in Prague as a way of sharing information with clients about the extent of the flooding. Mobile claims teams have been dispatched to all the affected areas, and the Czech unit is drawing on loss adjusting resources from neighboring countries to assist in fast claims assessment and settlement.

Video of flooding in Prague, filmed by Allianz Czech Republic.

State of emergency in Germany and Austria

Allianz Germany announced on June 4th that it was sending claims experts from all over the country to the flooded regions. It set increased for its free claims hotlines and already on May 31st it published a press release with tips for customers on how to respond to flooding and on which insurance covers which losses.

Most states in Austria are affected. However, the situation is different from 2002 when August snowmelt also added to the water level. Protective measures have also improved significantly since then. A crisis staff was set up at Allianz Austria, and some 200 people are now manning the telephones to help customers. It is still raining, and it remains to be seen how embankments to protect against the rising Danube river hold.

Allianz Global Corporate & Specialty insures large companies, construction projects and transport infrastructure throughout central Europe. It is working with its customers throughout the region and monitoring the situation. For these kinds of clients, one of the biggest financial concerns in a flood is not only property damage but also business interruption due to damaged facilities or hazards that prevent the delivery of parts or staff getting to work.

Switzerland has been less affected than initial reports indicated. There was local flooding in the northern region, but damages will most likely be smaller than in the other countries. Now that the rains have subsided, the danger appears past there.

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:

 

Katerina Piro
Allianz SE
Phone +49.89.3800-16048
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Vaclav Balek
Allianz Czech Republic
Phone +420.224405-409
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Claudia Herrmann
Allianz Deutschland AG
Phone +49.89.3800-6858
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Hans Peter Nehmer
Allianz Switzerland
Phone +41.58.358-8801
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Marita Roloff
Allianz Austria
Phone +43.5.9009-80726
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Heidi Polke
Allianz Global Coporate & Specialty
Phone +49.89.3800-14303
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