Report Swiss Flood Losses Estimated at $27 Million

November 29, 2002

The Swiss Insurance Association has estimated that the recent flooding in the country’s alpine valleys has caused at least SwF 40 million ($27 million) in damages.

According to a report from Dow Jones Newswire, the Association said that Swiss private insurers so far have received more than 2,000 notification claims related to buildings damaged during the past two weeks.

Heavy rains have caused flooding in several mountain cantons. Villages and infrastructure has been damaged in Grison and Ticino, where some towns have been partly destroyed. Damages caused by floods has also occurred in the canton of Uri and around Geneva.

The association reportedly indicated that it expects the damage estimates to rise further as the weather is unlikely to improve over the coming days, and more flooding is expected.

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