Insurance Lobby Reports French Riot Damages Soar to €650m

**Riots in France Lead to €650 Million in Damages: Claims Rise and Nature Varies**

**Significant Increase in Claims for Damages from Riots in France**

As of July 7, a total of 11,300 claims for damages resulting from riots in France have been filed, amounting to a cost of €650 million ($716 million), according to a statement released by the insurers federation. This represents a doubling of the number of claims compared to the estimate provided on July 3. The rise in claims highlights the extent of the damage caused by the riots and the financial burden it places on insurers.

**Breakdown of Claims: Commercial and Local Government Property**

Out of the total cost of €650 million, claims for damages to commercial property account for 55%, while claims for damages to local government property account for 35%. The distribution of claims showcases the impact of the riots on businesses and public infrastructure. It is crucial for insurance companies to assess and compensate these diverse types of damages accurately.

**Contrast with the 2005 Riots: Different Nature of Claims**

The nature of the current claims differs significantly from those made in the aftermath of the riots in 2005. During the 2005 riots, the majority of claims (82%) were related to vehicle damage and fire, amounting to a total cost of €204 million. This stark contrast indicates a shift in the pattern of damages incurred during riots over time.

**Extending Claims Notification Period**

To address the influx of claims resulting from the riots, France Assureurs has requested its members to extend the claims notification period from the standard 5 days to 30 days. This extension allows individuals and businesses affected by the riots to gather all necessary information and documentation to support their claims fully. The elongated period will facilitate a thorough review of each claim, ensuring fair compensation for the damages suffered.

**Conclusion**

The surge in claims for damages from the recent riots in France emphasizes the significant financial impact on insurers. The distribution of claims between commercial and local government properties demonstrates the widespread consequences of the riots on various sectors of society. Moreover, the dissimilarity in the nature of claims when compared to the 2005 riots highlights a changing trend in the types of damages incurred during such events. By extending the claims notification period, France Assureurs aims to provide ample time for individuals and businesses to submit their claims and receive fair compensation. As insurers continue to process the claims and assess the extent of the damages, it is crucial to ensure prompt resolution and support for those affected by the riots.