Insurers pay 10m euros to settle claims in the wake of floods

With flooding devastating the north of Romania, insurers receive increasingly more claims for damages, but their value is much lower than that of the overall damages because few homes in rural areas are insured.
The floods have affected thousands of homes and completely destroyed several hundred, with the claims that insurers are liable to settle currently put at around 10 million euros.
This is the value of reserves that insurers allocated for damages since the floods first started and up until now. Ten days ago the reserves were twice as low, of around 5 million euros. The number of claims opened by insurers as a result of the flooding that started in June currently exceeds 2,000, according to data centralised by ZF from the biggest insurance companies.