Friday, June 3, 2016

Floods: at least 600 million euros for insurers – Les Echos

The invoice floods that currently overwhelm the Centre and Ile-de-France looks salt for insurers. “It is too early to have a first estimate, especially as the rainy period is not over yet. (…) It is likely that the cost will not be lower than the floods that occurred in France in October 2015 with damage of about 600 million, although both climate events are very different, “ said Friday Bernard Spitz, President of the French insurance Association (AFA), in a statement sent to the” echoes ” .

Pending the decline, insurers had not faced the peak of insurance claims. “The people affected by the floods are now more concerned about safeguarding their property” says one well to MAIF. Before the weekend, the mutual insurer had received 3,000 cases (including 2,630 in housing). Macif had it recorded 4,100 statements (3,500 in housing and auto 300), according to a decree encryption to June 2 Covéa (GMF, MAAF, MMA) was 10,000 records on Thursday night.



“Speed ​​and efficiency”

the representatives of insurers will meet Monday morning with the Secretary of State for victim assistance, Juliette Méadel to coordinate compensation to flood victims last days, said Friday Prime Minister Manuel Valls. Traveling in Essonne, its electoral stronghold touched since the day before the flood, Manuel Valls stressed the “concern for victims’ on ” speed and efficiency “ of the management by insurers. The Prime Minister asked that payments of compensation by insurance intervene “promptly” for victims quickly find “normal life” .

“the priority is to enable people to return to their home as soon as possible. The compensation shall not constitute an additional test: it must be simple and fast, “ added in a statement Juliette Méadel, present alongside Manuel Valls

“extended period”

the state of natural disaster must be declared on Wednesday the Cabinet. The victims theoretically ten days after the publication of the order of natural disaster to advertise their damage. “This period will be extended,” Friday promised Bernard Spitz, who were alongside Manuel Valls and Juliet Méadel, when moving in the towns of Longjumeau, Corbeil-Essonnes and Evry.

This is for the insurers of the first major climate disaster of 2016, with hail storms in late May. In 2015, natural events had left a load of 1.5 billion euros in the sector, a high average cost in recent years. According to projections published in December by the AFA, the cost of natural hazards for insurers could amount to a total of 92 billion euros over the period 2014 to 2039, almost twice the previous 25 years ( 48 billion euros).

Laurent Thevenin

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