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7/8/13

Europe floods caused €4.5bn of damage, says Swiss Re

The devastating floods that hit central and Eastern Europe last month caused up to $4.5bn (£3bn) in losses for the insurance industry, said re-insurance group Swiss Re.

Swiss Re meanwhile welcomed the fact that local flood prevention measures had spared many regions from large losses, as in Prague, where mobile flood barriers saved most of the city from significant flooding. 

Read more: Europe floods caused €4.5bn of damage, says Swiss Re - Telegraph

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