Although the government has not provided precise statistics on the damage caused to citizens’ property following the heavy rains that fell across the republic between March 27–30, some insurance companies have disclosed preliminary figures.
The Azerbaijan Insurers Association has reported that the severe rains caused nearly 3 million manats in insured losses. As of April 1, a total of 1,649 insured persons had filed claims with 8 insurance companies. Of the incidents covered by the claims, 77 percent, or 1,269, fell on the capital city of Baku, while 23 percent, or 380, came from other regions of the republic, particularly the northern districts.
Of the claims, 1,421 received a positive assessment from insurance companies and the damages were evaluated. The claims of 15 victims were not accepted because they had no insurance coverage. The assessment process is ongoing.
The estimated total loss amount for insurance incidents currently stands at 2,472,480 manats, and this figure is expected to approach 4 million manats.
According to calculations by Qəzetçi based on figures disclosed by insurance companies, the average insurance payment per victim amounts to 1,740 manats, of which approximately 85 percent falls on vehicle-related insurance payments.
Of the claims, 1,261 were registered under compulsory auto insurance and 136 under “Casco” insurance. Given that “Casco” payments are higher compared to compulsory insurance, it is expected that payment amounts for other types of property will be lower.
Only 253 insured persons filed claims to cover damage to immovable property. Of these, 190 are related to incidents under “Compulsory insurance of immovable property,” and 63 under “Insurance of property against fire and other risks.”
However, the number of movable and immovable properties damaged in the capital and other cities and districts following the heavy rains is many times greater than what is reflected in these statistics.
The absence of title deeds for many residential homes in Baku, Absheron, and Khirdalan means that hundreds of houses remain outside the scope of compensation and insurance alike.