Climatic events weigh heavily on the French insurers in 2019
According to the French Insurance Federation (FFA), insurers paid 4 billion EUR (4.47 billion USD) to compensate the victims of weather-related events in 2019.
Natural disasters alone cost 2.2 billion EUR (2.46 billion USD) against 1.7 billion EUR (1.9 billion USD) in 2018. The drought bill amounted to 735 million EUR (823 million USD).
The combined ratio of the natural disaster activity stood at 123.7% in 2019; an increase of 16.9 points. Due to such results, individuals should expect further rate increases.
The five major weather events in 2019
| Events 2019 | Number of claims | Total Cost |
|---|---|---|
Bad weather on June 15th | 132 050 | 584 millions EUR (654 millions USD) |
Mediterranean episode of October 22nd and 24th | 51 700 | 133 millions EUR (148.9 millions USD) |
Teil earthquake of November 11th | 16 730 | 229 millions EUR (256.4 millions USD) |
Southeastern floods in late November, early December | 53 450 | 421 millions EUR (471.4 millions USD) |
Drought | 44 100 | 735 millions EUR (823 millions USD) |
