Friday, June 21, 2024

France.. 650 million euros, cost of unrest on insurance companies | economy


Insurance companies in France announced today, Tuesday, that they will pay the bill to cover damages caused by the protests that erupted in the country two weeks ago, after a young man named Neil was killed by a policeman. – 650 million euros.

About 90 percent of this “cost (…) relates to the 3,900 properties of professionals and communities affected by the “riots,” Florence Lustman, president of the “France Assure” federation of French insurers, said in a statement.

As for the remaining percentage (approximately 10%), this mainly relates to damages caused by people whose cars were severely damaged.

Last week, the coalition estimated the bill at less than half that (€280 million).

The union counted 11,300 claims for damages resulting from a week of protests sparked by the killing of 17-year-old Nail during a traffic inspection in Nanterre, west of Paris.

Geoffroy Rody Beziou, president of the French employers’ association “MEDEF”, announced that it was too early to give an exact number, but it was certain that the damage exceeded one billion euros, not counting the effects on the tourism sector.

The bill for protests related to Neil’s death is heavier than the bill for the events that erupted on the night of October 27, 2005, when two youths were electrocuted at a power station and died while hiding from the police. .

The riots, which lasted several weeks at the time, cost around 204 million euros, with nearly 10,000 claims for compensation identified and reported at the time.

Rolf Colon
Rolf Colon
"Creator. Award-winning problem solver. Music evangelist. Incurable introvert."

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