Saturday, June 4, 2016

Flooding could cost € 2bn of damage insurers – L’Argus de l’Assurance


 While the flood of the Seine continues Paris and the department of Seine-et-Marne remained under red alert, according to Weather France , insurance are able to deliver their first estimates of insurance claims in car and home with their insured.

 In total, the evening of Friday, June 3, the cumulative number of cases reaches the number of 43 3 86 . An obviously temporary good figure collected from seven life insurers Covéa (number one in France), Axa France (French number 2), Groupama (french number 3), Generali (number 6 in France) Macif , Matmut and Maif . The day before, Jean Vincent Raymondis, Member of the disaster committee of the Federation of expert companies (ESF) , evoked, for its part, a first number of “ order of 40 000 claims by the simulation data in p & C . “

  Covéa and Macif, the most exposed insurers

 

  •   Covéa (MAAF, MMA and GMF): 15,000 files
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  •   Axa France: 1695 spindly claims reported (1156 in auto and auto off 539) and 1129 claims storms / floods
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  •   Groupama: 3900 calls received between Monday, May 30 morning, Wednesday, June 1 (recorded early this Thursday, June 2) for in 1800 skilled Statements .
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  •   Generali more than 600 claims to date and hail recorded over 500 flood claims
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  •   Macif: 11 300 cases registered of which 7200 following the hail storm on the weekend of 28/29 May (3900 and 3300 by car in HRM and 4100 related to floods (600 in auto and 3 500 dwellings).
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  •   Matmut : 5000 registered folders (about 2/3 residential, 1/3 vehicles)
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  •   Maif: 6362 cases registered. The most affected departments. 31 (941) 44 (692) 45 (539) 77 (364) 78 (325) 91 (315)
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  A higher cost PROBABLY floods of October 2015

 Traveling in the town of Longjumeau alongside Valérie Pécresse, President of the Ile-de-France region and the Prime Minister, Manuel Valls, Bernard Spitz, President of the French Insurance Association (AFA) , provided support insurers with the victims. At this point, “ it is too early to have a first estimate ,” he said.

 As for the amount of damages, the president of the AFA believes that “ is likely that the cost of this episode will not be lower than the flooding that hit France in October 2015, with damage to the around € 600 million, although both climatic events are very different.

 Interviewed microphone France Info , Demurger Pascal, CEO of MAIF and AFA Vice President says: “ We have not yet consolidated figures in the profession. However, on the basis of statements MAIF, the results will be very heavy. Compared to the 2015 floods, we believe, to regard Maif the cost is likely to be three times just to individuals. No doubt, the damage will be greater for companies “A projection would bring the total cost of floods to nearly € 2 billion .

  The severely affected public and private companies

  Guillaume Pepy, Chairman of SNCF , has also evoked “ catastrophic consequences ” flooding on the railway network, especially in the Ile-de-France, damage that will be counted according to him “ tens of millions of euros .”

 For its part, the Medef is mobilizing to smaller companies whose floods and strike-related blockages will have “consequences on their cash flow and their ability to pay their expenses.” employers’ organization in particular require Bercy to take the “ measures required ” whose staggered maturities levies Tax and social of the months of May and June as well as the creation of “ a guarantee fund to strengthen their cash or aid to the most affected sectors.

  Coordinate compensation

 The representatives of insurers will meet with Secretary of State for victim assistance, Juliette Méadel Monday morning to coordinate compensation for flood victims of recent days, announced Prime Minister Manuel Valls . The latter requested that the payment of compensation by the insurance intervene “promptly” . “The priority is to enable people to return to their home the quickly as possible. The compensation shall not constitute an additional test: it must be simple and fast “, said in a statement Juliette Méadel

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 Victims have ten days after the publication of the arrested natural disaster , which will be presented Wednesday, June 8 Council of Ministers, to advertise their damage. “This period will be extended,” has promised Bernard Spitz.

 

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