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Insurance: climate claims to cost €5.2 billion from January – Science et Avenir

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

The total amount of climate claims in the first eight months of the year “already far exceeds the value observed every year since 2017, which averaged 3.5 billion euros over 12 months,” France Assureurs specifies.

This is due to two main factors: the increase in previously unusual events, such as severe weather in May and June, and the rise in the cost of building materials needed for repairs.

This new estimate “does not include the impact of the drought and some of the damage to crops known to be lost later this year,” the federation adds.

Affected by Cash Investigation, which aired Thursday on France 2, insurers are also eager to show the role they play alongside their insured clients.

Moreover, at the beginning of next week they will have a fateful meeting at the Ministry of Economy and Finance.

Faced with high inflation – 5.9% for the year in August according to INSEE – the government invited companies capable of doing so to make a gesture in favor of the purchasing power of the French.

“There is no reason why insurers shouldn’t also contribute to the collective effort,” Bruno Le Maire told a National Assembly committee on Wednesday.

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