Seoul Gazette - Swiss insurers estimate glacier damage at $393 mn

The Swiss Insurance Association (SIA) said it was "already certain that 2025 will go down in history" of the region with the year to date marked by "above-average claims" related to natural damage.

The SIA had said two weeks ago that the collapse, a "major disaster that is virtually unprecedented in its scale and impact on the affected population", would cost hundreds of millions in claims.

The collapse three weeks ago of the Birch Glacier, located in the Loetschental Valley, renowned for wild and unique landscapes, made headlines across the world.

Some nine million cubic metres (318 million cubic feet) of rock and ice that tumbled into Blatten buried most of its homes. Its 300 residents had been evacuated as a precaution although the disaster left one person missing.

The enormous mass of rubble formed a massive natural dam on the River Lonza, a river that flows along the valley floor and the water swiftly formed an artificial lake that submerged much of the village.

Local people "suffered total damage caused either directly by the landslide or by the ensuing floods", the SIA said in a report.

To "repair the damage caused to buildings and personal property," nearly 260 million Swiss francs will be paid out to the local population, according to the association.

The remaining 60 million francs will "compensate for interrupted business and reimburse motor vehicle expenses".

The SIA added that "Switzerland is among the best-insured countries in the world", with more than 90 percent of the country enjoying natural disasters-related insurance coverage.

B.Ha--SG