Climate disasters in France cost insurers 6.5 billion euros in 2023, pointing to a “change in scale” of claims.

The year 2023 was “the third most severe year in terms of climate disasters after 1999 and 2022,” according to the sector federation, with events such as hurricanes Ciaran and Domingos.

Catastrophic events which are rapid and which “Change Scale” Concerns Climate disasters in France could cost insurers 6.5 billion euros in 2023, according to the president of the sector federation, France Insurers, on Wednesday, March 27.

The year was 2023 “Third most severe year in terms of climate disasters after 1999 and 2022”., Florence Lustman told AFP. Several extreme events punctuate the year 2023, the second warmest year in France after 2022: “Fifteen wind events with winds over 150 km/h”, “14 Floods” Each time, more than 15 municipalities that have been the subject of natural calamity orders, “Storms Ciaran and Domingos that hit the North-West and caused 517,000 claims at a cost of 1.6 billion euros”.And the flood in the north that caused it “40 000 victims”.

We cross “Gradual Levels in the Costs of Climate Risk”.. In the years 2000 to 2008, “We averaged 2.7 billion euros per year”. Then, between 2010 and 2019, “We went to 3.7 billion. And if I take the average of the last four years including 2022 and 2023, I’m at 6 billion”, she added. The year 1999, marked by hurricanes Lothar and Martin, remains the worst ever with an estimated cost of 13.8 billion euros in continuous euros, followed by 2022, whose climatic events cost insurers 10 billion euros.

“Controlled” impact of hurricanes due to prevention

Storms, such as hail, are covered in insurance companies’ loss contracts, while floods or droughts are subject to a “cat net” regime (for “natural disasters”): the state covers half of the costs. , thereby reducing insurance companies’ bills by half. . To anticipate an increase in catastrophic climate events, Bursey also increased the year-end “cat net” surcharge for all policyholders from 12% to 20% from 2025.

“Civil and Government Redressal, Combined with Insurer Redressal” making “Storms Siran and Domingos had an impact that was contained. It could have been worse”, underlines Florence Lustman. The response of insurance companies to this change in the scale of risks, “It’s a scale change in our prevention behaviors.”Adds the president of France Assurers, who launched it “Drought Initiative” To find the best way to prevent or improve soil shrinkage-swelling, which threatens more than 11 million homes with cracks in France.

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