The Tide Turns Against Central Europe

The floods that devastated Germany, Austria, and the Czech Republic will put pressure on European insurers and cost business billions

Central Europeans are beginning to wonder how many once-in-lifetime floods they'll have to bear. Just five years after the last major flood, an even worse disaster struck this week in eastern Germany, Austria, and the Czech Republic. Torrential rains caused several major rivers to surge over their banks, killing more than 30 and causing billions of dollars in damage.

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