Industry group sees $8.2B insured damage from German floods

BERLIN (AP) — An insurance industry group says that devastating floods in western Germany last month likely caused insured damage to the tune of about 7 billion euros ($8.2 billion). That’s significantly higher than its previous estimate. More than 180 people died in Germany and hundreds more were injured in the July 14-15 floods, which also claimed lives in neighboring Belgium. Heavy rainfall turned small streams into raging torrents, sweeping away houses, bridges and cars. The German government has agreed to provide 30 billion euros ($35 billion) to help rebuild regions hit by the floods.