Flood insurance penetration needs to be increased
Germany’s insurance industry relies on the ZUERSflood zone system to assess flood hazard. Locations in Germany are classified at address level from zone 1(lowest) to zone 4 (highest) hazard. The German Insurance Association confirms that not only can zone 4locations be typically insured, it is key that property owners actively seek cover. The public was already informedthat in the future, it will be increasingly hard to get ex-post government reimbursement for flood losses ifpeople cannot prove they tried to buy insurance cover and got several quotes from different companies.Insurers can go beyond providing financial cover for flood losses. They have important knowledge andexpertise with regard to risk awareness, risk communication and risk management. This can be used toimprove protection.