Banks Demand Drone Attack Insurance for Mortgages
Some Russian banks require insuring mortgaged property against drone strikes. Banks are now requiring that risks of unmanned aerial vehicle strikes be included in insurance policies for mortgaged property, reports Kommersant citing participants in the insurance market.
Consensus
- Russian banks are requiring mortgage borrowers to include drone attack risks in property insurance.
- Insurance with drone attack coverage is more expensive than standard policies.
- Without expanded coverage, mortgage interest rates may increase by approximately 1–2 percentage points.
- The number of insurance requests for drone risk coverage has increased more than tenfold over the past 12 months.
- The requirement is currently limited to certain large banks and some regional banks in border or vulnerable areas.
Points of divergence
- The expanded insurance policy may cost 10–20% more than standard insurance. — tg_moscowmap
- The practice is described as 'point-specific' and limited to major institutions like Sberbank, VTB, PSB, Gazprombank, Dom.RF, and some regional banks in vulnerable regions. — tg_moscowtimes_ru
- Some insurers may exclude certain regions from coverage altogether. — tg_moscowtimes_ru
- The term 'drone attack risks' is currently rare; insurers more commonly refer to 'military risks and terrorism risk' in policies. — tvrain
- The requirement is reported as being limited to some banks, not widespread. — tg_tvrain
Coverage (4 sources)
- Mortgage in Russia may become more expensive due to drone attacks — Новости Москвы
- From Russians started to require insuring mortgages from the risk of drone strikes — The Moscow Times
- Banks require insuring mortgages against drone strikes — Дождь
- Some Russian banks require insuring mortgage property from drone strikes — Дождь (Telegram)
Key entities
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