Home insurance: the profession annoyed by a report from the High Commission for Strategy and Planning

"The profession firmly opposes the various, highly theoretical, scenarios of massive public intervention, which would lead to an 'insurance catastrophe' of which the French would be the first victims," ​​France Assureurs wrote in a press release.

The report, presented on Thursday, proposes three scenarios for developing multi-risk home insurance (MRH) and addressing territorial disparities (including low coverage in overseas territories, for example) and inequalities in coverage.

"In the first scenario, the State will play the role of regulator of the insurance market. In the second, it is the guarantor of all climate risks, and in the third, which provides for the socialization of climate risks, it is the insurer," explained Alice Robinet, the second author of the report, during a press briefing on Thursday.

This latest proposal corresponds to a "climate social security", with a "drought branch" and a "weather branch", just as social security already has a retirement branch and a family branch.

Compared to the current situation, the additional cost of the first scenario would amount to two billion euros and that of the other two, five billion euros each.

"The proposals for expanded public coverage, strict price controls, or even a so-called 'responsible' MRH contract are unrealistic," the professional federation criticizes, in addition to being "dangerous for public finances."

The lobby reaffirms its commitment to the "current model which has proven itself" and rejects what it describes as "risky experiments".

For the "natural disasters" scheme, the cumulative cost of claims fluctuated between 1,8 and 2,3 billion euros per year on average between 2019 and 2023, and could reach up to 4 billion euros per year in 2050.

Under this system, which covers floods, droughts and hurricanes, the state covers half of the damage, while those related to storms, hail and snow are covered by insurers.