Insurance companies lower flood damage estimates

The Czech Insurers' Association revealed on Thursday that the estimates of damage caused by last month's floods were reduced from 30.6 billion Czech crowns to 29.7 billion crowns. The number of flood-related claims recorded by the 17 insurance companies that are part of the association also fell from 100,000 to 78,000. Employees of the insurance companies have already inspected all of their clients' damaged properties, with the exception of smaller cases of flooded cellars or partially damaged weekend cottages. Insurance companies hope to cover the claims of most of their clients by the end of this year.