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MABISZ: Insurers to pay double last yearʼs storm damage

After the damages caused during this yearʼs storm season from May 1 to August 31, insurers will pay up to twice last yearʼs amount, according to the calculations of the Association of Hungarian Insurers (MABISZ), writes uzletem.hu.

MABISZ explained in its announcement that due to the weather anomalies in July, insurers will have to pay at least HUF 2.5 billion for claims settlement related to home insurance, after paying out HUF 5 bln in June.

During the storm season last year, claims amounted to HUF 4.1 bln, compared to HUF 3.1 bln the year prior.

In the previously notable summer period of 2010, insurers paid HUF 30 bln for 312,000 claims, and then spent HUF 6-8 bln on an average of 100,000 claims received annually.