French Insured Storm Losses Put at $4.4 Billion

February 2, 2000

Confirming previous estimates, the Federation Francaise de Societes d’Assurance reported Monday that over 3 million damage claims had been filed as a result of the storms which hit France at the end of December. Resulting damages covered by insurance are estimated at frs. 30 billion ($4.4 billion U.S.).

Three quarters of the claims came from damages to individuals said the federation, and most of the losses were the result of wind damage. Insurers will pay all claims, less a maximum deductible amount of frs.1500 ($222), and, depending on the insurer, no personal inspection of the damages is being required for losses raging between frs. 10,000 to 40,000 ($1480 and $5922).

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