RUSSIA: new law on housing insurance against emergencies signed

The law on housing insurance against emergencies passed through third reading at State Duma on July 26, and on July 30 the Federation Council proved it.

The bill was firstly accepted in 2015 and included into the priority list. However, its consideration was delayed due to multiple amendments based on critical remarks from insurers. The bill on housing insurance against emergencies was proposed after large-scale flood in Far East in 2013 for the purpose of reducing the burden of the federal budget for compensation of damage to citizens who lost their homes as a result of natural disasters and transferring some part of costs to insurers, wrote the portal ASN.

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