the damage bill climbs to 650 million for insurers, according to their federation

A hefty bill. The damage linked to the urban violence which followed the death of Nahel, a teenager killed on June 27 by a police officer, will cost insurers 650 million, their professional federation estimated on Tuesday July 11, more than double the 280 million euros. anticipated last week. The federation counts 11,300 claims related to violence.

The nine tenths “of the cost of this urban violence concerns the 3,900 property of professionals and local communities affected”, said the president of France insurers Florence Lustman, quoted in a press release. The rest mainly concerns damage suffered by individuals for their personal vehicles. In detail, claims on professional property represent 55% of the 650 million euros mentioned, and those on the property of local authorities 35%, specifies France Assureurs.

Towards a reduction in deductibles?

As of July 1, the Minister of the Economy Bruno Le Maire had asked insurers to extend the declaration deadlines, reduce deductibles and quickly compensate professionals who were victims of the riots, towards whom the banks were also called upon to show of understanding.

The professional federation invited its members three days later to “reduce” deductibles for “hardest hit small independent traders” by urban violence. It has been heard by certain mutualists such as Covea (MMA, MAAF and GMF brands), Macif but also the bank insurers BPCE, Crédit Agricole or Crédit Mutuel Alliance Fédérale (which brings together 14 of the 18 federations of the mutualist group as well as CIC), who announced measures for the victims. Axa, Generali and Société Générale had also followed suit.