Croatia: Property premiums expected to increase after 2020 earthquakes

13 January 2021 — Andrei Victor
Croatian Chamber of Commerce (HGK) estimates that FY 2020 insurance premiums related to the risk of earthquake will amount about HRK 110 million, up 28% on the year, as a result of earthquakes that hitted the country during 2020, The Croatia News wrote.

At the same time, HGK estimates that the number of insurance policies that cover earthquake to increase by the end of last year to 140,000, up 30% from 2019.

According to the mentioned insurance portal, ''the devastating earthquakes which hit Croatia last year have caused over HRK 100 billion worth of damage and many people have lost their properties, so it is not surprising that after the tremor which struck Zagreb and its environs in March there was an increase in earthquake insurance", the HGK said.

It is worg mention after the March 2020 earthquake, local insurers paid about HRK 237.5 million and processed 7,269 damages claims by the end of November. The average earthquake insurance premium is HRK 800.

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