According to the German insurance federation (GDV), accident and damage compensation have reached the record level of 50 billion EUR (68.8 billion USD) in 2013, an increase of 12% compared to 2012, the highest recorded in 25 years.
GDV ascribes this substantial increase to an "exceptionally high number of natural disasters" that took place in 2013, which cost 7 billion EUR (9.6 billion USD) to german insurers.