As the anniversary of the devastating Ahr Valley flood approaches, Germany’s insurance industry association, the Gesamtverband der Deutschen Versicherungswirtschaft (GDV), is advocating for a construction moratorium in areas deemed highly susceptible to natural disasters.
Speaking to the “Rheinische Post” GDV CEO Jörg Asmussen emphasized the need for a holistic strategy beyond insurance coverage. “Given the increasing frequency of natural hazards, we need a comprehensive approach. Insurance coverage is a crucial element, but it’s not sufficient on its own” he stated.
The GDV proposes a multifaceted concept incorporating robust preventative measures, climate adaptation strategies and climate-resilient urban planning. Key components include targeted removal of impermeable surfaces, a definitive construction ban in zones at highest risk and mandatory climate risk assessments as part of building permit approvals.
Asmussen also expressed openness to the German government’s planned requirement for natural disaster insurance policies, a commitment included in the governing coalition’s agreement. “The fact that the federal government enshrined natural disaster protection in the coalition agreement is an important signal” he noted. While acknowledging that the current proposal could provide a sound basis, particularly regarding considerations for an opt-out solution linked to a mandatory offer requirement, he cautioned that no form of obligation will automatically reduce damages or lead to lower insurance premiums.
