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Freak April weather leads to run on insurance claims

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.