Hungary: extreme weather during the first half of June resulted in insured losses of over EUR 6 million

Extreme weather conditions have significantly affected Hungary during the first half of June, resulting in about 18,500 claims files worth a combined HUF 2 billion (~EUR 6.1 million) in losses, the local association of insurers said.

Southern Hungary was the most affected region, with Bacs-Kiskun, Csongrad and Pest counties all experiencing weather-related damage. Apart from the strong winds, hail and lightning damage were also reported. The area of ​​the capital and the county of Pest were, as usual, the top priorities in the list, on the one hand, because being densely populated and on the other hand, because of the high proportion of insured persons. Average payouts reach some 115 thousand forints - about EUR 350 - in some companies.

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.

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