French riot damage has cost private companies over $1.1 billion

How is France to survive?

On July 3rd, Mouvement des Entreprises de France, the country’s largest employer’s union, announced that damages to private sector companies had exceeded $1.1 billion.

This number does not include public sector damage and damage to personal property. Each of these is hundreds of millions more.

Two days ago, The Times reported that 11,300 insurance claims had been filed so far, totaling $728 million.

From The Times…

Bruno Le Maire, the finance minister, said about 1,000 shops had been looted and nearly 400 bank branches attacked and vandalised. Nearly 6,000 cars and buses were burnt and more than 1,100 buildings set on fire or damaged, including police stations, schools, post offices, gyms, libraries and town halls. France Assureurs, the insurers’ federation, said claims by businesses and local authorities made up 90 per cent of the cost so far.

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