Sunday, 01 September 2013
Flood in Far East: expectations of insurers
The damage from the flood in the Far East can exceed 30 billion rubles. The share of insured property in the region is estimated no more than at 10%.
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The question with insurance payments on the flooded farmlands remains uncertain – the
present legislation on agri insurance doesn't cover risks of such flood.
According to the deputy envoy of president in the Far East federal district Vladimir Pysin, a
total damage from the flood can exceed 30 billion rubles.
Insurers expect to receive plenty of notices of loss after water goes down. According to SOGAZ
estimates, no more than 10% of suffered house owners have contracts of
insurance of constructions and house property. They can count on compensations
from insurance companies.
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