Russia Plans Housing Insurance for Emergencies
The Russian Security Council discussed mechanisms for insuring residential property against various emergencies and agreed on approaches to compensate damage, with input from key government and industry bodies.
Consensus
- The Russian Security Council discussed approaches to insuring residential property against emergencies.
- The proposed measures were coordinated with the Ministry of Finance, Ministry of Emergency Situations, Ministry of Construction, and the All-Russian Union of Insurers.
- The council considered both voluntary and mandatory insurance mechanisms for compensating damage to housing.
- A meeting was held under the leadership of Deputy Secretary of the Security Council, Grigory Molchanov.
- The discussion included ways to ensure compensation for damage to residential property.
Points of divergence
- Participants at the meeting developed approaches to insurance of housing against emergencies of 'various nature'. — kommersant
- In mid-August, the head of the All-Russian Union of Insurers, Yevgeny Ufimtsev, stated that banks began requiring inclusion of drone strike risk in mortgage insurance, making it significantly more expensive. — kommersant
- Without a policy with expanded coverage, the interest rate may increase by about 2 percentage points. — kommersant
- Insurers said the number of banks imposing such conditions will grow. — kommersant
- The Security Council defined approaches to creating a system of insurance for residential premises against emergencies. — vedomosti
- On August 20, the All-Russian Union of Insurers reported that some major Russian banks began requiring inclusion of risk of falling aircraft in property insurance for mortgages. — vedomosti
- The union clarified that this refers to refining requirements for insurance of collateral property—apartments or residential homes—and that the insurance sum typically remains unchanged regardless of included risks. — vedomosti
Coverage (2 sources)
- In the Russian Security Council, housing insurance against various emergencies was discussed — Коммерсантъ
- In the Security Council, a mechanism for insulating housing from emergencies was developed — Ведомости