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The Seine’s flooding: Cost of damages covered by insurers

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Magazine Issue: 
Insurers, up against fraud [3]
Magazine date: 
May 2017

According to the latest assessment by the French Insurance Federation, the damage caused by the floods that hit the centre and north of France from May 25th to June 5th, 2016 have cost the insurers more than 1.4 billion EUR (1.58 billion USD).

Until now, 96% of the 182.000 claims notifications have been compensated. Only 4% of home insurance claims and 3% of motor claims are yet to be indemnified. Claims pertaining to business and agricultural risks have been respectively settled at 90% and 95%.

The total cost of natural disasters in France has nearly reached 50 billion EUR (56 billion USD) in 25 years. This number could escalate to 90 billion EUR (101 billion USD) by 2040.

Read also : Seine’s flooding [4]

Tue, 03/12/2019 - 08:18

Source URL: https://www.atlas-mag.net/en/article/the-seine-s-flooding-cost-of-damages-covered-by-insurers

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[4] https://www.atlas-mag.net/en/article/the-seine-s-flooding-the-toll-is-poised-to-be-heavy