EAEE: At € 4.9 million the initial forecast of compensation for the damages from the earthquake in Crete

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The Association of Insurance Companies of Greece (EAEE) completed the survey among the Insurance Companies – its members, for the first assessment of the damage from the seismic sequence in Crete in the period 27 – 30 September 2021 (especially in the areas of Arkalochori and Heraklion).

A total of 212 losses were declared with an initial compensation provision of a total of 4.9 million euros.

The research is available on the EAEE site here.

On the occasion of the investigation, Mr. Errikos Moatsos, Chairman of the Property Committee of EAEE commented:

In the last 12 months (September 2020 – September 2021) the insurance market was called to support the insured citizens and businesses in 8 natural disasters: rain from Ianos, floods in Crete, snowfall in Attica (Medea), earthquake in Samos, earthquake in Thessaly (Tyrnavos), fires in Corinth and the Geraneia mountains, summer forest fires in Evia, Attica, etc., earthquake in Crete (Arkalochori). To the above will be added the losses of the bad weather Ballos of October, the data of which are being processed.

These indemnities could be significantly higher if more buildings were insured. “The increasing frequency and severity of natural disasters related to climate change and the fact that Greece is a region with intense seismic activity call for immediate initiatives that will help citizens to protect their property.”

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Source From: Capital

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