HUNGARY: after the weekend hail - more than five thousand claims and damage for over HUF 1.5 billion

15 July 2021 — Marina MAGNAVAL
After the weekend storms the expected damage amount has already exceeded one and half billion on Monday morning, although insurance companies believe that the number of related claims may even increase in the coming days, the Association of Hungarian Insurers (MABISZ) announced.

The companies reported more than five thousand claims for over one and a half billion forints to MABISZ on July 12. Payments for this singe weekend will most likely exceed total amount of the first two months of the current May-August storm season (HUF 2.1 billion/~EUR 5.9 million*). And this is only related to home insurance, the data do not include agricultural damage and damage caused to industrial facilities, public institutions, etc.

Nearly three-quarters of the claim reports are related to ice damage. The weekend hail also caused serious damage to motor vehicles. Those who have Motor Hull insurance can expect compensation. However, this is only the case for every fifth to sixth vehicle. While in case of home insurance this figure

is significantly more favorable, about 72-73%.

* for the following exchange rate:

1 EUR = 355.98 HUF, forints (13.07.2021)

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