IRSI agreement between French insurers
An agreement between French insurers that hands water damage and fire claims in buildings below a threshold to a single handler, with flat-rate recovery.
June 1, 2018: the IRSI agreement replaced CIDRE and CIDE-COP for water damage and fire in multi-occupancy buildings, up to 5,000 euros of damage per unit before tax. One insurer handles the claim, the occupant's: it appoints the adjuster for everyone and pays without waiting to learn where the leak came from. Below 1,600 euros before tax there is no recovery between insurers, each keeps its own cost; above that, recovery is on a flat rate. The arithmetic is plain. On a loss of a few hundred euros, a joint survey, a disputed leak search and a recovery action cost more than the indemnity. The agreement binds member insurers among themselves, not the policyholder, who keeps every contractual right and may contest it.
In force since June 1, 2018 in place of the earlier CIDRE and CIDE-COP agreements, IRSI applies to claims whose damage does not exceed 5,000 euros excluding tax per unit. Below 1,600 euros excluding tax no recovery is pursued between insurers; between that tier and the ceiling, recovery is made at a flat rate.
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