Unraveling the Mystery: The Violent Storm in La Chaux-de-Fonds and the Implications for Insurance

2023-10-27 19:29:18

Published on October 27, 2023 at 9:29 p.m.

A morning at the end of July like so many others in the Neuchâtel Mountains languid in the torpor of the watchmaking holidays. Suddenly, gusts of incredible violence sweep through the town of La Chaux-de-Fonds, tearing apart buildings, gutting others, causing a crane to fall and fall on a car. The man who thought he would find refuge there will not survive, becoming the victim of a storm that meteorologists were unable to prevent and that they are still struggling to understand.

Climate change is not necessarily to blame. And for insurance, the main thing is elsewhere since whatever happens, the bill for these bad weather will be attributed to an accounting item that has become very sensitive since the thermometers are panicking, that of “natural damage”. In California, faced with the threat of extreme events, a large insurer is no longer taking on new customers. On the other side of the country, in Florida, premiums have exploded to the point of exceeding the weight of their mortgage for some owners.

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