The consequences of global climate change are already being felt in Germany today. People in Germany are increasingly confronted with storm damage and, associated with this, increasing financial burdens. The flood disaster of 2021 and its consequences are a striking example of this. Homeowners in Germany can already take out comprehensive insurance against natural hazards by taking out natural hazard insurance (ESV). However, unlike motor vehicle insurance, ESV is not compulsory.
The DKKV has published a statement on compulsory elementary damage insurance as an element of precaution against climate risks. This refers to a cornerstone paper of the Federal Government dated 6 December 2022, in which the details of the introduction of compulsory insurance for natural hazard damage are discussed. The DKKV’s recommendation is: “We need compulsory insurance mandated by law, but it must be designed with prevention in mind and expanded into comprehensive natural hazard insurance through government measures.” Read the entire statement in Germn here.