Floods in Belgium: heavy cost for insurers

The professional association of Belgian insurance companies Assuralia has published the toll of the massive floods that hit the country between 14 and 16 July 2021.

As at 30 September 2021, insurance companies have received 71 746 claims for a total amount of 2.164 billion EUR (2.52 billion USD). Wallonia alone has recorded 2.07 billion EUR (2.4 billion USD) of insured losses. The most affected communes in this region are Liège, Verviers and Trooz.

Most of the claims (63 692 files) concern simple risks (homes and businesses) followed by damage to vehicles and other flood claims (large companies, institutions).

Still according to Assuralia, this disaster could lead to an upward revaluation of insurance rates.