The Minister of Overseas, Annick Girardin received, last Tuesday, the president of the French Federation of Insurance (FFA), Mr. Bernard SPITZ, to discuss the issues of compensation for disaster victims following the passage of the cyclone IRMA, which hit the French West Indies hard on September 6.
With nearly 25 claims declared in Saint-Martin and Saint-Barthélemy for an estimated total cost of 000 billion euros, IRMA is one of the most costly climatic disasters in the history of France. As a reminder, 1,83% of the buildings on the two islands were damaged, a quarter of which were completely destroyed, and more than 95 insured vehicles were damaged or declared wrecked.
Five months after the cyclone hit, 65% of insured files have already received full or partial financial settlement in Saint-Martin and 57% in Saint-Barthélemy. Since September, insurance companies have paid around 500 million euros to their customers. However, the number of cases settled shows a lag of almost 50 days compared to the last major disasters that affected the national territory.
For Annick GIRARDIN, the acceleration of payments to disaster victims is necessary to start reconstruction work. The Overseas Minister invited insurance representatives to continue their efforts in this direction in order to respond quickly to claims for compensation.
The FFA representatives noted that more than 90% of the expert opinions have already been carried out and that the 100% should be reached soon, which will allow an acceleration of payments. However, they stressed that the extent of the damage and the special situation of the two islands posed unprecedented difficulties for insurers. The dispatch of experts was delayed by the abolition of air links. In addition, certain files concerning co-ownerships take longer to process, especially since 20% of the co-owners have not come to their insurance. Finally, almost 90% of the insured have called for a second opinion, while this rate is generally 10%.
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