Maud Descamps 6:10 am, October 28, 2021, modified at 6:12 am, October 28, 2021
On the occasion of two reports on the impact of climate on insurance, Europe 1 takes stock of the costs generated by floods, fires and storms.
Droughts are expected to multiply in the coming decades and could in particular drive up the insurance bill.
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This is the similar conclusion of two reports, one by the Caisse Centrale de Réassurance (the third edition of its annual study) on the impact of the climate on insurance and the other by the federation of insurers: natural disasters. and climate change will cost more and more money for the State and the taxpayer. If nothing is done to protect homes and crops from future natural disasters such as floods, fires or storms, the cost of damage caused by these events will increase by 50% by 2050 from 1 billion to 1.5 billion euros.
This increase in costs should, within a few years, be reflected in the price of insurance.
Today, the additional premium linked to the natural disaster is 12% and could therefore rise in the decades to come, due to the recurrence of destructive events.
The insurability of questioned droughts?
Drought is at the forefront of natural disasters that worry insurers the most.
A major player in the sector recently told Europe 1 that this is what will cost the most in the future.
He even admitted to questioning the insurability of certain areas.
The projections of the central reinsurance fund confirm this phenomenon.
“Drought insurability may arise because we think we will have more and more drought cycles in the future,” explains David Moncoulon, co-author of the study.
"And the question does arise as to the increased costs of these events."
These droughts will hit the agricultural world hard and losses for grain producers will increase by 75% by 2050, if no preventive measures are put in place.