Following the unrest which followed the fatal police shooting of an unarmed teenager in France, the economic costs of the ensuing riots is adding up. Just ten days after the start of the riots in late June, there have been over 11,000 claims filed, putting the total cost of the riots tallied so far at €650 million ($721 million), according to the French insurance federation.
AFP, citing reports from France Assureurs, noted that 55% of the total cost is attributable to claims on professional property.
According to the federation, the first claims it had received over the first five days after the outbreak of violence were primarily for damage to cars and trucks.
Florence Lustman, the President of France Assureurs, noted that 90% of the cost of the “exceptional violence relates to the 3,900 properties of professionals and local authorities affected.”
French Finance Minister Bruno Le Maire had urged insurers earlier in the month to allow the insured extra time to file their claims.
For almost a week, starting on June 27th, France experienced an outbreak of violent riots, following the shooting by police of a French-Algerian teenager, 17 year-old Nahel Merzouk, in a Paris suburb of Nanterre, after he attempted to drive through a checkpoint as an officer tried to stop him. The officer who shot the teen has been arrested, and is charged with homicide.
The incident ignited a wave of violent nationwide protests, with the government being forced to deploy 45,000 police officers to gain control of the streets, which were overrun with protestors starting fires and attacking police, buildings, and stores, as well as setting fire to cars and trucks alongside the streets.
Over 4,000 people were arrested, including roughly 1,200 minors.