Freak April weather leads to run on insurance claims

Weather

By Monday, clients of insurer Aegon Magyarország had filed for damages caused by the irregular cold weather in April amounting to an estimated HUF 83.6 million, according to a press statement sent to the Budapest Business Journal today.

Clients of Aegon, which describes itself as the market leader, filed claims for a total of 965 instances of meteorological damage caused by heavy rain, strong winds and irregular snowfall over the month. The average damage claim was around HUF 87,000, according to Aegon statistics.

By way of comparison, in February average net monthly earnings by the national concept were HUF 182,700 excluding family tax benefits, and HUF 190,500 including such benefits, according to the latest data by the Central Statistical Office (KSH).

Aegon noted that April was not the first month of the year when unusual weather conditions boosted damage reports. January saw extreme cold and freezing, which led to Aegon clients filing 850 claims for damages, worth more than HUF 71 mln in total.

HUPX Joining Serbian, Slovenian Peers in Adex Power

HUPX Joining Serbian, Slovenian Peers in Adex

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.