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21 May 2012

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EUR700mn insurance hit from French floods

25 June 2010

The fatal flash foods that struck southern France on 15 June, killing 25 people, are set to cost insurers nearly EUR700mn, according to estimates from the French federation of insurance companies (FFSA).

Torrential rain caused the worst floods in the region in almost 200 years, with flash flooding in the hills above the French Riviera. The government declared a state of natural catastrophe in nine districts of the Var region, meaning that the country's state-backed natural catastrophe indemnification system will...

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