90% of insured flood victims compensated for July 2021 floods

90% of insured flood victims compensated for July 2021 floods
A flood in Namur after heavy rainfall on 15 July 2021. Credit: Maxime Asselberghs / Belga

Almost a year after the floods in July 2021, the professional association of insurance companies, Assuralia, announced on Monday that almost 90% of insured cases have been settled and the people affected compensated.

Of these, 75% of the victims have been fully compensated by their insurer and 15% will receive their balance with the presentation of the invoices for the work carried out, after having already received 80-90% of the expected amounts, according to an Assuralia press release.

The remaining 10% of cases have yet to be finalised mainly due to missing documentation, lack of availability for certain trades or the need for a second opinion. However, advances for these claims have already been paid.

“The insurance companies will continue to make efforts to ensure rapid compensation for the remaining claims in consultation with the insured victims,” Hein Lannoy, CEO of Assuralia, said in the release. “A year after one of the worst natural disasters our country has ever known, the vast majority of them have now been fully reimbursed.”

The most affected

The insurance payments total about €1.7 billion. Most of this money went toward homes, small businesses and farm buildings. The estimated total damage costs were €2.5 billion. Most of the damage costs came from Wallonia, making up €​​2.44 billion, especially the province of Liège.

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A total of 75,496 claims were reported to insurance companies following the floods that hit the country between 14 and 16 July 2021, Belga News Agency reports.

Wallonia recently announced that a commemoration ceremony will be held on the anniversary of the flood, 14 July 2022 in Chênée, Liège to commemorate the families affected and those who went missing and lost their lives during the disaster.

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