The amendments will be considered by the Parliamentary Committee on Finance, Budget, Entrepreneurship, and Competition Development on February 23.
The proposed changes concern the law "On Mandatory Insurance of Residential Premises Against Fire and Natural Disasters."
Currently, insured events [situations in which the insurance company is obliged to make a payment to the client] are divided into four categories:
1) fire;
2) flooding as a result of firefighting activities;
3) natural disasters;
4) dismantling and relocating insured housing to a safe place to prevent damage during a natural disaster.
The new version proposes to lower the threshold values for certain natural disasters that trigger an insured event.
| "strong wind" | |
| Existing definition | New definition |
| 25 m/s | 20 m/s |
| "heavy snowfall" | |
| Existing definition | New definition |
| 200 mm in 12 hours | 150 mm in 12 hours |
| "hail" | |
| Existing definition | New definition |
| diameter of hailstones from 20 mm | no size restriction |
| "earthquake" | |
| Existing definition | New definition |
| 6 points and above | 5 points and above |
