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Article: $67 MILLION IN SWISS FLOOD LOSSES.
- Article from:
- Business Insurance
- Article date:
- May 24, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THUN, Switzerland-The heaviest flooding in nearly a century is expected to generate insurance losses in northern Switzerland of more than 100 million Swiss francs ($67 million).
Insurers and local officials say this figure may go even higher, depending on how long unseasonably heavy rainfall lasts and how much damage is caused by the accompanying debris.
The flooding, which began on the evening of May 12 and peaked on May 16, was caused by an unusually wet spring on top of exceptionally heavy melting of snow. Last winter, Switzerland experienced some of the heaviest snowfall in decades. The worst flooding has occurred in the region around the city of ...