Hungary: extreme weather during the first half of June resulted in insured losses of over EUR 6 million
Claims settlement proceeds fast, most insurers trying to respond to the announcements within 72 hours. Low value claims are settled within a few days. In fact, a recent survey undertaken at MABISZ's (Hungarian Association of Insurers) request shows that 90% of home insurance customers are satisfied with the service received.
Last year, in the peak period between May and August (otherwise affected by frequent weather abnormalities), companies spent nearly HUF 6 billion in real estate owners' compensation. According a press statement made by a representative of the Hungarian unit of Generali, judging by the past experience, the summer storms season may leave behind some 100 thousand claims for home insurance contracts.