Compensation for climate disasters increased by almost one billion euros in 2022.
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France experienced a summer marked by numerous disasters, such as fires in Gironde and violent storms in Corsica. As an illustration of what has been going on for several years. In just seven months, more than a million claims have been declared in France, which represents 4.3 billion euros in damages according to France Assureurs, the main representative of companies in the sector. On average, 3.5 billion euros have been paid out each year for the past five years.
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Direct consequence: home insurance premiums could soar. The ACPR, the authority that monitors the activity of insurers and banks, estimates that there could be a 113 to 120% increase over the next 30 years. For individuals, this represents an increase of 2 or 3% on premiums. A cost of only a few extra euros, but every year.
Another increase is to be expected: that of the tax used to finance the compensation scheme for natural disasters. This 12% tax levied on home insurance could increase to 18% to support the fund, which is already in deficit. The natural disaster compensation scheme is “is a regime that is under pressure”worried, Tuesday, August 30 on franceinfo, Olivier Moustacakis, co-founder of the insurance comparator Assurland.com.
“Climate loss experience is skyrocketing, especially this year”adds Olivier Moustacakis. “All the somewhat catastrophic models predict, if nothing is done in terms of prevention, a bill of up to 143 billion euros for natural disasters by 2050”he warns.