The floods and storms that have affected France over the last few weeks have resulted in 214,000 claims with a cost of 430 million Euros
On a visit today to Pau and Salies-de-Béarn, Bernard Spitz, President of the French Insurance Federation, met the public authorities and local elected officials. He affirmed insurers’ commitment to supporting those affected in the Pyrénées-Atlantiques and the country as a whole
Between 25 May and 14 June 2018, hailstorms and heavy rain battered a large part of France. These weather events were notable for their duration, the extent of the geographical area they covered and the wide range of damage they caused.
To date, insurers have recorded 214,000 claims, with an estimated cost of 430 million Euros.
The claims arise from damage caused by the hail and the rain to homes, vehicles and business assets. The nature of the damage is very varied: floods, mudslides, electrical damage, damage to the bodywork of vehicles, loss of earnings, etc.
The FFA points out that these losses are covered by property insurance contracts (multi-risk home insurance contracts, multi-risk business insurance contracts) and by the full accidental damage cover of motor insurance contracts. All property insurance contracts (home, business, etc.) include natural disaster cover which will come into play for insured parties in municipalities for which an order recognising a natural disaster has been made.
Farmers have also been particularly affected by these weather events and specifically by the hailstorms that destroyed several thousand hectares of vines. The torrential rain led to excess water on farmers’ land, mainly affecting large crops (rapeseed, wheat and barley).
This agricultural damage is covered by two types of contract: multi-risk crop weather insurance and hail insurance contracts.
According to Bernard Spitz, President of the FFA: “This intense weather followed the storms and floods that occurred early in the year. Insurers are working hard on the ground to assess the damage and support their insured parties in getting their businesses back up and running and restoring or repairing their personal property. The industry is currently working with the government to modernise the natural disaster insurance regime; this will make it possible to develop the culture of prevention, make cover for alternative accommodation more widespread, simplify the way excesses work for individuals and cap them for businesses. These proposals should be finalised by the end of the year.”