Flooding doesn't stop at the border

That's why collaboration and learning from each other is so important. Because not only Limburg was hit hard during the floods in July 2021. In Germany, too, the consequences were disastrous, with even fatalities. During the working visit of the Association to the Gesamtverband der Deutschen Versicherungswirtschaft (GDV), flood damage was central, but other important topics were also discussed, such as the revision of the European supervisory framework Solvency II.

That's why collaboration and learning from each other is so important. Because not only Limburg was hit hard during the floods in July 2021. In Germany, too, the consequences were disastrous, with even fatalities. During the working visit of the Association to the Gesamtverband der Deutschen Versicherungswirtschaft (GDV), flood damage was central, but other important topics were also discussed, such as the revision of the European supervisory framework Solvency II.

Looking beyond your own national borders

"By looking beyond your own national borders, you can come to an approach in which you can strengthen each other," says Geeke Feiter, director of damage at the Association, after the visit. In addition to differences in how to deal with damage from weather extremes, Feiter also saw three important similarities. "The differences are obviously in the size and geography of Germany and the way the insurance market and the government are designed. " But", she also emphasizes: "German insurers are also confronted with increasingly extreme and prolonged rainfall, which means that flooding will occur more often. And that we share the same ambition to work with the government on a solution in the form of an effective compensation scheme for affected residents." The GDV also recognizes that this can only be achieved from a broad, comprehensive approach. Feiter: "An approach that not only focuses on concrete preventive measures that you can take in the run-up to, for example, a storm or a lot of precipitation. But also by already thinking carefully about how we organize our country and by building climate-adaptive in order to prevent and limit damage. And, last but not least, to provide effective help and support, during and after the settlement of the damage caused by weather extremes."

Get to know general managers

The visit to the GDV was also a good opportunity for further acquaintance between general directors Jörg Asmussen and Richard Weurding of both associations. The GDV also sees the Alliance as an important partner in other policy areas. For example, the cooperation surrounding the revision of Solvency II is very intensive and constructive, certainly with regard to the developments regarding the prudential treatment of mortgages under Solvency II. German insurers, like the Dutch insurers, have many long-term liabilities on their balance sheets.

Many economic interests

The visit to Berlin was also used to meet the Dutch ambassador to Germany. The Netherlands has many economic interests in Germany and there is cooperation in many areas. The Netherlands is closely following the developments of the German energy transition, partly in view of the risks that the transition entails. In addition, the embassy brings Dutch companies and investors, such as insurers, into contact with the German government.

Visiting the Dutch embassy