Claims on French riots double over past week to €650m price tag

Rioting in France has rendered some 11,300 insurance claims for a €650 million price tag, the French insurance lobby group France Assureurs said of its updated estimates.

“The cost of the damage declared following the urban violence at the end of June is already more than three times higher than that of the losses caused by the four weeks of riots in the autumn of 2005,” officials said in a statement.

The total claims count and sums were double the early read available one week prior on July 3, the lobby group noted.

Claims on commercial property represent 55% of the total cost and public property accounts for the next 35%, the organization said. That constitutes a different profile from 2005 riots, when damage to vehicles accounted for 82% of claims.

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