by Switzerland’s four largest buildings insurers estimate the costs of recent weather events could reach half a billion francs across Switzerland, reported RTS. © Angela Schmidt | Dreamstime.comAccording to Grégoire Deiss, who works for the cantonal buildings insurer ECAB in Fribourg, the cost of recent storms and flooding could be around CHF 500 million across all of Switzerland, a figure he based on claims that have been made so far. However, the final bill remains uncertain. More claims will come because some people were away on holiday. In addition, some damage will be discovered later, he said. Deiss also pointed out that the cost of claims against private insurance will need to be added to this figure. In Switzerland, basic buildings insurance is compulsory and is provided by
Topics:
Investec considers the following as important: Editor's Choice, environment, Flood damage Switzerland, Personal finance
This could be interesting, too:
Investec writes The global brands artificially inflating their prices on Swiss versions of their websites
Investec writes Swiss car insurance premiums going up in 2025
Investec writes The Swiss houses that must be demolished
Investec writes Swiss rent cuts possible following fall in reference rate
Switzerland’s four largest buildings insurers estimate the costs of recent weather events could reach half a billion francs across Switzerland, reported RTS.
According to Grégoire Deiss, who works for the cantonal buildings insurer ECAB in Fribourg, the cost of recent storms and flooding could be around CHF 500 million across all of Switzerland, a figure he based on claims that have been made so far.
However, the final bill remains uncertain. More claims will come because some people were away on holiday. In addition, some damage will be discovered later, he said.
Deiss also pointed out that the cost of claims against private insurance will need to be added to this figure. In Switzerland, basic buildings insurance is compulsory and is provided by public interest entities at the cantonal level. It is possible for building owners to add private insurance on top of this compulsory buildings insurance.
According to Alfred Egg, a claims expert at AXA insurance, no increase in insurance premiums is expected at this stage. However, it is too early to reach any firm conclusions. Typically, the worst month for storm damage in Switzerland is August, which accounts for roughly 50% of annual claims.
More on this:
RTS article (in French) – Take a 5 minute French test now
For more stories like this on Switzerland follow us on Facebook and Twitter.