Insurers Pay out Nearly HUF 7.5 bln on Storm Damage Claims
Hungarian insurers paid out almost HUF 7.5 billion on claims for storm damages in May-August, the Hungarian Insurance Association (MABISZ) said on Friday, according to a report by state news wire MTI.
Payouts were under last year's levels, but policyholders got an average HUF 120,000 per claim, up 20-40%, MABISZ said.
The association attributed that increase to the greater intensity of storms as well as the higher costs of reconstruction.
It noted that storm damage claims came to 63,000, just half to two-thirds of the number in the same period a year earlier.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.