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Insurer: Total damage from European floods over $16 billion, costliest disaster in 1st half

from The Associated Press via Fox News

Munich Re AG, a leading insurance company, says the recent flooding in central Europe caused damage totaling more than $16 billion, about a quarter of it insured — making it costliest natural disaster in 2013 so far. Munich Re AG put insured losses from the flooding in Germany and several other countries at $3.9 billion. Both figures were similar to the damage caused by floods in 2002 that hit some of the same areas. more

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