Insured losses from widespread flooding and damage after Hurricane Irma hit Saint Martin and Saint Barthelemy Islands has reached roughly €1.2 billion (approx US$1.44bn), according to preliminary CCR estimates.
This loss estimate is for insured losses covered by the French Natural Disaster scheme from damage to residential buildings, vehicles and businesses, including business interruption losses, and will be covered by CCR and insurers’ reserves.
CCR, said; “While the French Antilles have just suffered an unprecedented natural disaster that caused damage of an exceptional magnitude, CCR expresses its support and solidarity to the victims of Hurricane Irma and their loved ones.”
Hurricane Irma has become one of the costliest natural disasters to impact France in 35 years.
The €1.2 billion estimate was produced by multidisciplinary experts using data-based digital simulations CCR.
