French Floods in October Cause Up to €420 Million in Damages

The Caisse Centrale de Réassurance estimates significant costs from recent floods, with potential for further reevaluation.

The Caisse Centrale de Réassurance (CCR) has estimated the cost of the October 17-18 floods in France at between €350 million and €420 million.
These floods affected multiple regions, including the Centre-East, South-East, and Île-de-France, resulting in approximately 35,000 insurance claims.
At least half of the estimated cost will be borne by the CCR, which provides unlimited reinsurance coverage when a natural disaster is declared.
Significant rainfall, especially in the Cévennes, led to extensive flooding, with some areas receiving up to 700 mm of rain in 48 hours.
The French government plans to increase the natural disaster insurance surcharge from 12% to 20% in 2025 to better fund disaster response efforts.