French Insurance Lobby Says Cost of Riots Is $305 Million So Far

Alexandre Rajbhandari
Tue, July 4, 2023 


(Bloomberg) -- French insurers have so far received around 5,900 claims worth a total of some €280 million ($305 million) resulting from damage caused during a week of riots following the police shooting of a teenager.

This compares with 10,000 claims for a cost of €205 million during the last major riots in late 2005, Florence Lustman, chair of French insurers’ lobby France Assureurs, said at a financial forum in Paris on Tuesday.

Finance Minister Bruno Le Maire said earlier that insurers agreed to extend the delay for store owners to make damage claims resulting from the violence to 30 days from five and that they would consider reducing the deductibles on claims for those independent businesses worst hit.