Damage from a landslide that wiped out the town of Blatten in Switzerland is estimated at 320 million Swiss francs ($604 million), an industry group says.

The May 28 fall, triggered by the collapse of the Birch Glacier, destroyed everything in its path and led to flooding.

About 300 residents from the Valais region town were evacuated before the event.

The Swiss Insurance Association says initial disaster pool estimates include about 260 million francs ($491 million) for buildings and contents, and 60 million francs ($113 million) for business interruption and motor vehicles.

The association says it is clear 2025 will be an above-average claims year for the pool. 

In the event of total building damage caused by landslides and floods, claimants are usually paid an advance of 75% of the insurance sum, less the deductible, with detailed damage evidence not required, to ensure rapid assistance without unnecessary complications, it says.

Insurers have started making initial payments. 

The Swiss natural perils pool is a joint enterprise by 12 private insurers, with losses spread according to their market share in the country.

The insurance association website says the tariff is identical for all holders of a natural perils policy and the law prohibits insurers from asking for higher premiums in regions at particular risk.

“Due to the extensive solidarity among the less-exposed segments of the population and those that face major natural perils, this type of insurance becomes possible,” it says.