Federation Francaise des Societes d’Assurance (FFSA) president Denis Kessler said yesterday that the loss estimates from last winter’s storms, Lothar and Martin, would top 45 billion francs ($6.4 billion) exceeding the original estimates by more than a third.
Kessler offered the following breakdown of loss estimates: FF 22 billion ($3.12 billion) in damages to buildings and property; FF12 billion ($1.7 billion) industrial and commercial losses; FF 6 billion ($851 million) agricultural losses; FF 3 billion ($425 million) flood related damages and FF 2 billion ($284 million) in loss and damage to motor vehicles. The FFSA figures cover only damages insured by the private sector, and do not include the several billion dollars spent by the SNCF, the state rail corporation, the EDF, the public electric company, and the government authorities in charge of roads, public buildings, parks and national monuments, to repair infrastructure, and reopen routes.
Topics Profit Loss Windstorm
Was this article valuable?
Here are more articles you may enjoy.
Surplus Lines Commercial Growth; Fla. Litigation Costs Reach New High in 2023 
Project 2025 Plan to End NFIP Welcomed by Some, Rejected by Others in Insurance 
Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond 
Insurers Settle With Hotel in Case of Woman Videotaped in the Shower 
