Home insurance premiums to rise
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SERIES OF WEATHER DISASTERS PUSHES UP COSTS BY 5% FOR NEXT YEAR WEATHER disasters are a key factor behind the rising cost of home insurance policies next year. The effects of floods, hail
and storms on claims were pushing companies to raise their prices, an insurance director told the financial newspaper _Les Echos_. “Coming back to back, these events, while not the focus of
public attention, are going to cost the market nearly as much as the Xynthia hurricane of 2010,” said the director general of Axa, Jacques de Peretti. Axa has one of the largest rises next
year (4.9%) according to a survey carried out by _Les Echos_. Elsewhere the rises are Maaf 2,5%, Maif (3%), Macif (3,5%) and Swiss Life (4% - 5%). The costs of car insurance should stay
reasonably stable, with rises between 0-2.8%. One firm, Maaf, is even offering a 5% reimbursement on payments made last year. Photo: Nantes flood 2011, by Julien Lozelli