Deadlines for settling natural disaster claims reduced

On 13 December 2021, the French Parliament adopted the draft law on reforming the compensation system for natural disasters. Among the amendments introduced is a reduction in the settlement period for natural disaster claims.

Once the law is enacted, insurers will have one month after the occurrence of a disaster to inform the insured about their coverage and to mandate an expert to evaluate the incurred losses. After receiving the expert's report, insurance companies will have an additional month to suggest an amount of compensation to the claimants.

Eventually, the settlement period must not exceed a maximum of 21 days from the date of receipt of the insured's agreement on the compensation proposal.