French riot damage doubles: who pays for thousands of wrecked shops

At least 3,000 French shops were damaged during weekend riots, double the initial estimate, with insurers unable to assess total losses and financial markets already reacting negatively. Retail federation chief Alexandre Bompard estimated industry losses at several hundred million euros, with Carrefour alone reporting 50 damaged stores. France's CAC 40 fell 1.1% Monday, while insurance stocks and government bonds also declined. The 2023 riots caused €793 million in insured losses across 17,000 claims. A new government scheme making riot coverage mandatory awaits EU approval, leaving compensation dependent on existing policies, with lost revenue potentially uncovered.