William Malcolm

Insurers Estimate Tornado Did CZK 3.6 Billion In Damage

Insurance companies estimate the damage from the storms that hit the country last week at CZK 3.6 billion. Of this, CZK 2.3 billion is already being handled by insurance companies. There will be up to 25,000 insurance claims, over 11,000 of them are reported. This follows from estimates provided today to ČTK by the Czech Insurance Association. The damage also includes a tornado rampage in southern Moravia.

To date, insurance companies have settled 1,700 claims and paid out CZK 50 million, half of which is in advances. The expected average damage reaches CZK 144,000.

In the case of residents, it is mainly building insurance, where the estimated damage is CZK 1.8 billion, the reported damage is CZK 967 million. There will be 12,000 insured events, half of them are reported, 1,300 have been settled. CZK 49 million has been paid out, CZK 24 million in advance payments.

Many motor vehicles will also be damaged, about 6,000. According to the association, the total damage will reach CZK 240 million, on average CZK 40,000 per vehicle. In business insurance, it is primarily property insurance. She estimated the damage at CZK 1.2 billion, of which CZK 1 billion was reported. In crop and animal insurance, it assumes damage worth CZK 140 million out of 380 claims, the average is based on CZK 370,000.

According to experts for insurance companies, the June storms could become the fourth most costly natural insured event since the establishment of the Czech Republic in 1993. “So far, we have only rough estimates. extensive floods and skipped all hurricanes, “said Veronika Nová, a spokeswoman for the association, to ČTK.