Floods of 14 and 15 October 2018: the estimated final cost is 220 million Euros

Floods of 14 and 15 October 2018: the estimated final cost is 220 million Euros

On a visit today to the Aude department, Bernard Spitz, president of the French Insurance Federation, emphasised the commitment of insurers who are doing all they can to speed up the claims process.

A delegation from the French Insurance Federation is today meeting the prefect of the Aude department Mr Alain Thirion, the mayor of Conques-sur-Orbiel Mr Jean-François Juste, parliamentarians, representatives of the chambers of commerce and industry, crafts and agriculture, elected officials and residents of the affected municipalities to review the situation following the deadly floods of mid-October.

The French Insurance Federation estimates the number of claims caused by these floods at 35,000, including 27,000 for the Aude department alone, with a final cost of around 220 million Euros.

Advance payments of 17 million Euros have been made against claims, with particular attention accorded to those experiencing serious difficulties.

In order to speed up the processing of claims, insurers have strengthened their teams on the ground, including by deploying mobile units. Exceptional measures have also been taken by many insurers, such as offering psychological support, making mutual assistance platforms available and storing scrap vehicles.

In accordance with their commitments, insurers are accepting claims until 30 November 2018 for municipalities for which a state of natural disaster has been recognised. These claims can be made by any means (telephone, internet, ordinary post, etc.). Insurers will accept all types of supporting evidence (including photos and witness statements) if insured parties no longer have the invoices for the damaged property.

According to Bernard Spitz, president of the FFA: “In order to assist their insured parties with their claims and speed up settlement, insurers have strengthened their teams on the ground and loss adjusters are working tirelessly. The whole insurance industry is working closely with the public authorities and elected officials to respond as quickly as possible to the expectations of affected individuals and businesses.