Compulsory insurance against natural hazards in Switzerland and France: What Germany can learn from there

Compulsory insurance against natural hazards in Switzerland and France: What Germany can learn from there

According to a report by www.faz.net,

The article shows that most homeowners in Switzerland have unlimited insurance against flood damage. This is done by cantonal building insurers, who insure homeowners against natural hazards in 19 of 26 cantons. Similar compulsory insurance exists in France and systems differ between countries. The article also discusses the limits of compulsory insurance in France.

In Germany, there is currently discussion about compulsory insurance against natural hazards such as floods, storms and hail. The framework conditions and the implementation of such insurance in Germany could learn from the experiences of Switzerland and France. In Switzerland, compulsory insurance leads to a high coverage rate against natural hazards, so that the financial impact of natural disasters on affected homeowners is minimized. France, on the other hand, is already reaching its limits, which shows that compulsory insurance does not always work smoothly.

A possible introduction of compulsory insurance against natural hazards in Germany could lead to more homeowners being insured against floods, storms and hail, which would reduce the financial risks for those affected. This could also impact the insurance market and open up new business opportunities for insurance companies. However, the limitations and challenges that have already arisen in France must also be taken into account.

Overall, the article shows that the introduction of compulsory insurance against natural hazards in Germany could have positive effects on the market, consumers and the insurance industry, but the potential risks and challenges also need to be carefully assessed.