The recent heavy rains in the southern states of Bavaria and Baden-Württemberg are expected to cost insurers around €2 billion ($2.2 billion), the German Insurance Association (GDV) said on Friday, in an initial estimate The current floods in southern Germany were the third and largest in just a few months. In addition to the Danube, many of its tributaries also burst their banks. One week after the heavy rains started, more rain is in sight, though not as much as before. “Because the floods on the Danube in particular have not yet subsided, this estimate is still subject to a certain degree o…