SWISS FLOODS CAUSED DAMAGE OF SFR2BN

The Swiss Insurance Association said yesterday that claims from the recent floods in Switzerland caused damage that could total SFr2bn, more than double that incurred during the storms of 1999, with which the recent flooding had been compared, reports swissinfo . Swiss Insurance Association president Albert Lauper said that “the biggest part of our damages will be covered by the insurance industry”, but would not say whether or not premiums would rise as a result of the floods. Canton Bern has announced damages of SFr190m, while the federal authorities have said that the cost of public infrastructure repair would not be known before mid-October at the earliest.