Finance minister: flood damage estimate now exceeding CZK 60 billion

The September floods caused damages to the tune of roughly CZK 60 billion, Finance Minister Zbyněk Stanjura said on Monday after a meeting with representatives of employers, social service providers and municipalities affected by the floods in the Olomouc Region. He said the estimated amount is not final and will probably increase as repairs are still ongoing. Meanwhile Czech insurers put the damage estimate to insured property at CZK 18.8 billion. According to a report by the Czech Association of Insurance Companies, institutions and companies suffered damages to the tune of CZK 11.6 billion, while households sustained losses of approximately CZK 7.2 billion. Insurers have registered approximately 89,600 insurance claims to date.