Latvian insurers reserve 8.05 million euros for storm damage

Following a recent storm, insurers in Latvia have received over 4,800 insurance claims, with approximately 8.05 million euros reserved for potential payouts. According to data compiled by the Latvian Insurers Association (LAA), 424,000 euros in claims have already been paid out.

The majority of claims involve damage to private and commercial properties, including roof damage, building facade issues, and water ingress. Additionally, vehicle insurance claims have been filed for cars damaged by falling trees or debris, and there are claims regarding losses to agricultural crops.

LAA President Jānis Abāšins stated that these initial figures represent only the beginning of the assessment process and expects both the number of claims and the total payout amount to increase as more individuals and businesses report their losses. The association advises those with damaged property to photograph or film the damage before repairs and to prioritize safety when taking necessary actions to prevent further loss.