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According to the French insurance federation, the companies on the market have disbursed 2.3 billion EUR (2.4 billion USD) in order to compensate customers who were victims of climate events in 2016. This figure is above the average rate of the last eight years which is set at 1.8 billion EUR (1.9 billion USD).
Last May and June floods, alone, cost 1.3 billion EUR (1.36 billion USD). With incurred losses of 820 million EUR (864 million USD), agricultural insurance has been particularly strained by climate hazards.
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