climate claims since January will cost 5.2 billion euros

Natural disasters in France generated 1.4 million claims between January and August and will result in 5.2 billion euros in compensation from insurers, according to the latest score sent Friday by the professional federation to AFP.

The total of climatic claims during the first eight months of the year “is already much higher than the cost recorded each year since 2017 which averaged 3.5 billion euros over 12 months”, specifies France Assureurs.

Two main factors explain this: a greater frequency of hitherto unusual events, such as severe weather in May and June, and the rise in the price of building materials needed for repairs.

This new estimate “does not include the effects of drought and part of the damage to crops, for which the loss experience is known later in the year”, adds the federation.

Damaged by the program Cash Investigation broadcast Thursday on France 2, insurers are also keen to show the role they play alongside their insured customers.

Especially since a crucial meeting awaits them at the beginning of next week at the Ministry of Economy and Finance.

Faced with high inflation – 5.9% over one year in August according to INSEE – the government had invited companies, able to do so, to make a gesture in favor of the purchasing power of the French.

“There is no reason that insurers should not also contribute to the collective effort”, indicated Bruno Le Maire on Wednesday before a commission of the National Assembly.

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