French insurers evaluate storm costs

by David Masters

Story link: French insurers evaluate storm costs

Storms that left 26 people dead across southern Europe this weekend caused hundreds of millions of euros in damage, an insurance industry group has revealed.

The Federation Francaise des Societes d’Assurances (FFSA) said better estimates will come in the next few days when the full extent of the destruction is clear.

Three types of insurance will be hit by storm payouts: buildings, vehicle and accident.

Buildings insurance, both residential and business, will cover storm damage.

Vehicle insurance may cover storm damage if the policy includes a guarantee for fire and damage.

People injured as a result of the storm will be covered by their accident policy.

Insurers have stepped in to ensure that policyholders’ claims related to the storm are dealt with as quickly as possible, the FFSA said.