December 12, 2008
Outbreak of Violence in Athens


Europe | Greece
EXPERTEAM





 

On Saturday 6th, December 2008 in undefined circumstances a 15 year old civilian was shot dead by a policeman. It appears that this incident was the fuse for a civilian reaction which in all probability was supported by some political parties.


On Sunday 7th, December 2008 during the evening hours, groups of people (characterised as anti authority supporters) gathered in neighbourhoods at the center of Athens  and caused damage to several shops and banks. The losses were mainly broken windows in shops, banks and damage to ATM machines.


On Monday 8th, December 2009 around noon there was an official protest march in the centre of Athens. At the end of the march protesters repeated their violent activity and starting breaking into shops and banks and setting fires. These incidents were more violent than Sunday night's and appear to have been a chain reaction involving other groups of people, mainly immigrants and drug addicts.


vrs»experteam  has received a large number of new loss instructions, including major claims for international corporate clients, such as DSG International group (Electro world, Dixons etc) and LVMH group (Christian Dior, Luis Vuitton etc) as well as local, well known, corporate clients like Forthnet (internet and telephony service provider) Attica Bank and Pro Bank.


Market intelligence at the moment suggests that there are several hundred insured losses, with an average claim of 10,000 Euros.

Banks and international retailers were apparently the main targets. The police have avoided giving a ''label'' to illustrate the events, which are described as being carried out by "groups of individuals'' and their actions referred to as ''incidents''. In terms of insurance policy coverage it appears to be more civil commotion than malicious acts or losses.


By Thursday 11th  the situation had calmed, but at the time of preparing this report on the afternoon of Friday 12th December there were unconfirmed reports of renewed disturbances and there is the potential for another difficult weekend ahead.


vrs»experteam's staff remain on standby and will be pleased to provide immediate loss minimisation measures as and where required:


Please contact: Stavros Dimopoulos 


vrs»experteam

Ag. Konstantinou, 6

104-31     104-31     Athens

Tel. : 0030 210 - 5234.220

Fax : 0030 210 - 5247.084