After the deluge: what lessons have insurers learned after the recent floods?

Beginning on July 12, 2021, the North Rhine-Westphalia and Rhineland-Palatinate areas of Germany suffered horrific flooding that, over the course of a week, killed nearly 200 people and displaced thousands from their homes. The damage was so bad that the state premier Armin Laschet declared in the days afterwards that up to €30 billion ($35 billion) may be needed to help rebuild.