Switzerland Grieves Fire Victims While Investigating Causes; Insurers Evaluate Damages

Flags are flying at half-mast across Switzerland today as a poignant tribute to the 40 victims of a devastating fire at a mountain resort. At 2 p.m., church bells will toll nationwide, marking a moment of remembrance for those who lost their lives.

As the country pauses to pay respects to the victims, many of whom were teenagers enjoying a night out, citizens are grappling with the shocking reality of such a tragedy occurring in a nation renowned for its safety and high living standards.

The fire erupted in the early hours of New Year’s Day in Crans-Montana, located in the French-speaking southwest of Switzerland. Tragically, many victims were so severely burned that identification took several days. Of the 116 individuals injured, most remain hospitalized, with some transferred to specialized clinics in Stuttgart and Paris.

Read more: Fire Safety Inspections Lapsed for Years at Swiss Bar Where 40 Died in New Year’s Blaze

The incident has sent shockwaves throughout the country, particularly following revelations about safety failures at “Le Constellation,” a two-story bar in the town. Local authorities, responsible for enforcing fire safety regulations, admitted this week that the bar had not undergone safety inspections since 2019.

“We bitterly regret this,” stated Crans-Montana Mayor Nicolas Feraud during a press conference.

A memorial ceremony for the victims is scheduled for Friday in Martigny, part of a national day of mourning. The event was relocated from Crans-Montana due to heavy snowfall expected in the area.

Switzerland’s President Guy Parmelin, who described the fire as “one of the worst tragedies that our country has ever known,” will attend, alongside local politicians. French President Emmanuel Macron and Italian President Sergio Mattarella will also participate, honoring the victims from their respective countries, as those affected hailed from 19 nations.

This disaster casts a shadow over several upcoming global events in Switzerland, including ski World Cup races and the World Economic Forum’s annual gathering in Davos.

Authorities in Davos announced that a “proven fire-safety regime” will be implemented for the WEF event starting on January 19. Fire services will be on heightened alert, with additional crews deployed, including a special unit stationed at the Congress Center where key events will occur.

In Davos, stores and even a church are being transformed into event spaces, with multiple temporary structures under scrutiny and inspection by the Graubünden cantonal building insurer.

Adelboden, where World Cup ski races are set for this weekend, is also taking precautions. “The operators will do everything they can to ensure that we won’t have a repeat of such an event,” Mayor Willy Schranz told SRF Radio. “We have a responsibility here.”

Swiss lawmakers held a hearing with Justice Minister Beat Jans, questioning the support available for the fire victims.

Investigation

Valais prosecutors are investigating the two bar owners for alleged fire safety violations, with potential charges including homicide and bodily injury by negligence. The fire reportedly started from sparklers in champagne bottles igniting highly flammable soundproofing foam on the ceiling.

Insurers are assessing the aftermath, with payouts expected for survivors and families of the deceased. French insurer AXA SA confirmed it provided liability insurance for Crans-Montana and business liability insurance for “La Constellation.” Both policies are standard, with limited coverage, according to AXA’s Swiss unit.

Swiss insurance companies Zurich Insurance Group AG and Helvetia Baloise Holding AG have declined to comment on their exposure.

Despite the tragedy, there has been little impact on tourism in Crans-Montana, according to Bruno Huggler, director of Crans-Montana Tourism. “There have been hardly any early departures or cancellations, apart from those directly affected,” he noted.

Many businesses that temporarily closed or reduced hours are now striving to return to normal operations. The town’s website encourages visitors to come with “calm, respect, and consideration during this time of shared sorrow.”

Copyright 2026 Bloomberg.

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Flags are flying at half-mast across Switzerland today as a poignant tribute to the 40 victims of a devastating fire at a mountain resort. At 2 p.m., church bells will toll nationwide, marking a moment of remembrance for those who lost their lives.

As the country pauses to pay respects to the victims, many of whom were teenagers enjoying a night out, citizens are grappling with the shocking reality of such a tragedy occurring in a nation renowned for its safety and high living standards.

The fire erupted in the early hours of New Year’s Day in Crans-Montana, located in the French-speaking southwest of Switzerland. Tragically, many victims were so severely burned that identification took several days. Of the 116 individuals injured, most remain hospitalized, with some transferred to specialized clinics in Stuttgart and Paris.

Read more: Fire Safety Inspections Lapsed for Years at Swiss Bar Where 40 Died in New Year’s Blaze

The incident has sent shockwaves throughout the country, particularly following revelations about safety failures at “Le Constellation,” a two-story bar in the town. Local authorities, responsible for enforcing fire safety regulations, admitted this week that the bar had not undergone safety inspections since 2019.

“We bitterly regret this,” stated Crans-Montana Mayor Nicolas Feraud during a press conference.

A memorial ceremony for the victims is scheduled for Friday in Martigny, part of a national day of mourning. The event was relocated from Crans-Montana due to heavy snowfall expected in the area.

Switzerland’s President Guy Parmelin, who described the fire as “one of the worst tragedies that our country has ever known,” will attend, alongside local politicians. French President Emmanuel Macron and Italian President Sergio Mattarella will also participate, honoring the victims from their respective countries, as those affected hailed from 19 nations.

This disaster casts a shadow over several upcoming global events in Switzerland, including ski World Cup races and the World Economic Forum’s annual gathering in Davos.

Authorities in Davos announced that a “proven fire-safety regime” will be implemented for the WEF event starting on January 19. Fire services will be on heightened alert, with additional crews deployed, including a special unit stationed at the Congress Center where key events will occur.

In Davos, stores and even a church are being transformed into event spaces, with multiple temporary structures under scrutiny and inspection by the Graubünden cantonal building insurer.

Adelboden, where World Cup ski races are set for this weekend, is also taking precautions. “The operators will do everything they can to ensure that we won’t have a repeat of such an event,” Mayor Willy Schranz told SRF Radio. “We have a responsibility here.”

Swiss lawmakers held a hearing with Justice Minister Beat Jans, questioning the support available for the fire victims.

Investigation

Valais prosecutors are investigating the two bar owners for alleged fire safety violations, with potential charges including homicide and bodily injury by negligence. The fire reportedly started from sparklers in champagne bottles igniting highly flammable soundproofing foam on the ceiling.

Insurers are assessing the aftermath, with payouts expected for survivors and families of the deceased. French insurer AXA SA confirmed it provided liability insurance for Crans-Montana and business liability insurance for “La Constellation.” Both policies are standard, with limited coverage, according to AXA’s Swiss unit.

Swiss insurance companies Zurich Insurance Group AG and Helvetia Baloise Holding AG have declined to comment on their exposure.

Despite the tragedy, there has been little impact on tourism in Crans-Montana, according to Bruno Huggler, director of Crans-Montana Tourism. “There have been hardly any early departures or cancellations, apart from those directly affected,” he noted.

Many businesses that temporarily closed or reduced hours are now striving to return to normal operations. The town’s website encourages visitors to come with “calm, respect, and consideration during this time of shared sorrow.”

Copyright 2026 Bloomberg.

Topics
Carriers