Insurance companies in France announced on Tuesday that they would be paying a bill of €650 million to repair damages resulting from the protests that erupted in the country two weeks ago following the killing of a young man named Nael by a police officer.
Florence Lustman, the president of the French Insurance Federation France Assureur, stated that about 90% of this cost (…) is related to 3,900 properties of professionals and local communities that were affected by “acts of rioting.”
The remaining percentage (approximately 10%) is primarily related to damages incurred by individuals whose cars were severely damaged.
Last week, the federation estimated this bill to be less than half (€280 million).
The federation recorded 11,300 claims related to damages caused by the protests that lasted for a week, sparked by the killing of the 17-year-old Nael during a traffic stop in Nanterre, west of Paris.
Geoffroy Roux de Bézieux, the president of the French Employers’ Association “Medef,” stated that it is premature to provide an exact number, but what is certain is that the damages exceed €1 billion without considering the repercussions on the tourism sector.
The bill for the protests related to Nael’s killing appears to be much higher than the bill for the events that occurred on the night of October 27, 2005, following the deaths of two young men who were electrocuted in a power station while evading the police.
The riots, which lasted for several weeks back then, cost around €204 million, and the compensation claims were identified and announced at that time, amounting to nearly 10,000 shares.