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Insurance solution for natural hazards – the insurance industry is ready with solutions


Vienna (OTS) – Climate change is evident, extreme weather events are increasing dramatically: The urgency of an insurance solution against natural hazards cannot be higher!

Climate change is evident, extreme weather events are increasing dramatically. The Austrian population is increasingly confronted with the consequences of extreme weather events. Headlines such as “Heat wave reaches its peak” or “Heat record in Austria is broken”, reach us in the media now almost daily.

In addition, these risks are still strongly underestimated, although the events of the last few years confirm that Austria is by no means spared from extreme weather events or natural disasters. Not only individual regions are at risk, but all federal states. Unfortunately, these are no longer annual phenomena, but a long-term trend in the increase of extreme weather events can be clearly observed.

In this country, it is mainly storms, floods, snow and hail, heat waves and earthquake hazards. For many years now, the Austrian insurance industry has been pointing out that it will only be possible to insure against natural hazards on a nationwide basis if politicians also make their contribution. However, Austrian insurance companies are well prepared to handle claims from extreme weather events quickly and competently. However, in order to be able to guarantee the insurability of natural hazards throughout Austria in the future, further political steps are urgently needed to provide the legal framework. “Only a community-based solution can make it possible to insure natural hazards. Policymakers must ensure that there are suitable legal provisions that allow Austrian insurers to spread the risk appropriately. Then insurance products against natural hazards can be offered at a price that is affordable for the customer. This could be realized, for example, through the legally binding integration of natural disaster coverage into existing fire insurance policies – as is the case in Belgium, for example. On the other hand, each individual is also called upon: The better the preventive measures, the lower the extent of damage in individual cases,” says Dr. Othmar Ederer, Vice President of the Austrian Insurance Association VVO.

Association of Austrian Insurance Companies VVO
Mag. Dagmar STRAIF
T.: 01/711 56/289
E.: [email protected]

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The post Insurance solution for natural hazards – the insurance industry stands ready with solutions appeared first on TOP News Austria – News from Austria and around the world.


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