The cost to insurers of recent floods in southeastern France has been estimated at €600 million to €800 million ($800 million-$1 billion).

The figures are initial estimates from the major insurers’ organisation in France, Federation Francais des Societies d’Assurance (FFSA).

Heavy rains during the first week of November triggered widespread flooding across the southeast of the country and in parts of Italy.

“Insurers are working hand in hand with state and government for compensation and return to normal life as quickly and as best as possible,” FFSA President Bernard Spitz said.