Swiss storm damage estimated at up to CHF200 million

Storm damage estimated at up to 200 million francs Keystone-SDA

The storms from mid-June to the beginning of July caused total insured losses of CHF160 to CHF200 million (about $180 million to $224 million) in Switzerland. This is according to the Swiss Insurance Association, as announced on Thursday.

The damage is covered by the statutory natural hazards insurance. The cantons of Valais and Ticino were most affected, the Swiss Insurance Association (SIA) added. The storms of recent weeks had caused major devastation there.

The private insurers would classify the storms as a severe event. The extent of the damage is comparable to the hail event in Ticino on August 25, 2023. The provisional loss balance sheet only includes reported insured damage to buildings, household contents and business inventory, the SIA, which says it has around seventy private insurers as members, added. This does not include uninsured damage or damage to infrastructure.

Adapted from German by DeepL/ac

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