Investors who lost money from investing in Wirecard AG shares can’t make Germany’s financial regulator Bafin compensate them, a Frankfurt court ruled. The tribunal on Wednesday threw out four suits by shareholders who claimed they lost between 3,000 euros ($3,404) …
Digital insurer Getsafe has received its insurance license from Germany’s financial regulator, BaFin. The license will allow Getsafe to accelerate its expansion to the rest of Europe. “The license is a significant milestone – especially when considering that the German …
Working from home during the pandemic cost German companies some 53 billion euros ($62 billion) worth of damages from cyber attacks, according to estimates by the Cologne Institute for Economic Research. Overall damages hit a record 224 billion euros last …
RMS, the Newark, Calif.-based catastrophe modeling company, estimates that insured losses from the Western and Central Europe flooding, which occurred between July 12 and 18, 2021, will likely range between €5 billion and €6.5 billion (US$6 billion and US$7.7 billion). …
AIR Worldwide, the Boston-based catastrophe modeling firm, estimates insured losses in Germany from July flooding could approach €5 billion ($6 billion). Low pressure system “Bernd” parked itself over central Europe and brought about significant flooding from July 13 to 18, …
With an insured price tag of €4 billion to €5 billion (US$4.7 billion to $5.9 billion), economic losses from Germany’s recent floods are likely to be significantly higher, which highlights a sizable insurance “protection gap.” This protection gap – or …
The recent severe floods in Germany could add up to 5 percentage points to German non-life insurers’ net combined ratios (net claims and expenses to net premiums), according to Fitch Ratings. The insured losses are likely to be Germany’s highest …
Swiss Re’s iptiQ and ImmoScout24, Germany’s leading online real estate platform, are launching a loss-of-rent insurance product, which provides private landlords with protection against the financial uncertainties that can arise from tenancy agreements. As an insurance partner, iptiQ offers ImmoScout24 …
Berkshire Hathaway Specialty Insurance (BHSI) announced it has named Mathias Neumann as head of Casualty in Germany. Mathias has more than 20 years of experience in the insurance industry in Germany. He spent the last 14 years at MSIG Insurance …
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has launched new terrorism insurance coverage in the German market, effective immediately. Since LSM entered the market in 2018, business written used the standard London market cover. The new terrorism …
