Inondations de mai juin 2016 - CCR

Floods of May-June 2016 in France - Modeling the risks and damages

Actuality Image CCR

06/28/2016

 

Intense rainfall affected the northern half of France between May 25 and June 6, 2016 causing several watercourses to burst their banks, particularly in the Loire and Seine basins. This may well be the most costly natural disaster loss since the creation of the compensation scheme in 1982.

CCR's models of these events and the information gathered in the field enabled the company to provide a preliminary estimate of the total amount of insured property that falls within the range of € 900 million and 1.4 billion. With the information reported by its clients, CCR sharpened its estimate of insured damage that should reach upwards of € 1.2 billion in total. CCR is expected to pay at least half of this cost.

This study addresses the uncertainties that persist concerning the assessment of this cost – and that may lead to an inevitable adjustment – notably when consideration is given to damages to basements and sub-levels as well as to business interruption losses affecting industries and merchants. The study also details the characteristics of the entirety of the natural events as well as the nature of the losses that the events incurred.

 

 

 

Activities Services CCR

Floods of May-June 2016 in France

Modeling the risks and damages

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