Latvia has seen nearly 3,500 insurance claims following a severe storm and rainfall last Sunday and Monday, with reported damages totaling about EUR 7 million, according to Jānis Abāšins, President of the Latvian Insurers Association. The claims include approximately 2,700 for property damage, 600 for vehicles, and 150 for crops.
Average claims for property and vehicle damage are around EUR 2,000, though some range from a few hundred to tens of thousands. Claims for crop damage average EUR 16,000. Abāšins expects the number of claims to rise as the full extent of the damage is assessed, with settlements potentially extending up to six months due to the complexity of construction repairs.
Abāšins noted a trend of increasing natural disaster claims in Latvia over the past 30 years and emphasized the need for more comprehensive insurance coverage as such events become more frequent.
