Introduction of compulsory natural hazard insurance urgently required
02. Apr 2025
In view of the increasing number of extreme weather events in Germany, the German Council of Consumer Experts (SVRV) recommends the introduction of compulsory natural hazard insurance. This became clear during the press conference on May 22, 2024, at which Prof. Hartmut Nickel-Waninger was presented as a guest expert on the topic of natural hazard insurance.
In view of the devastating effects of flood disasters, such as the recent one in the Ahr Valley in 2021, the experts point out that only around half of homeowners are insured against such risks. Prof. Nickel-Waninger underlines the need to better protect the population against financial losses caused by natural disasters. The SVRV has already submitted proposals for a reform model that could provide for compulsory insurance to cover damage that threatens people's livelihoods and at the same time encourage them to take personal precautions.
The results of a federal-state working group on the spread of natural hazard insurance will be presented in June, and the experts express the hope that faster progress can be made.
In addition, the HKC is an active part of this project to drive discussion and implementation.
The full press release can be found at this link.