The insurers will pay RON 15.7 million, due to the floods
The Romanian insurance companies will pay, as a result of floods that
have affected our country in July this year, over RON 15.7 million.
Thus, following the catastrophic phenomena a month ago, the insurance
companies in Romania have opened 719 damage claims files, according
to the information reported by the Insurance Supervisory Commission.
Meanwhile, the financial effort necessary for the reconstruction of
the areas affected by floods will be around the amount of EUR 500 million,
according to Government estimates. The damage caused to agriculture
and forestry alone was estimated at RON 180 million.
The small share of damages paid by the insurance companies reflects
the low degree of penetration of the insurances, especially in rural
areas, that are most affected by floods.
Between July 22nd - July 31st this year, in the river basins of Siret,
Suceava, Viseu, Iza, in northern Romania, were recorded unprecedented
rainfall, Botosani, Iasi, Bacau, Vaslui, Maramures and Neamt being
the counties affected.
In some areas of these rivers, maximum values of the debits were very
high, with the probability of happening once in 100 years or even in
200 years, exceeding historical levels.
For example, the Prut river flow into the country had the highest values
of the whole range of hydrological observations made until now, surpassing
the Danube one.
Author: Mihaela CIRCU
on 04.08.2008
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