HAIL TAX COULD RAISE INSURANCE PRICES
A new hail tax could raise insurance prices – especially in the most mainstream class. The aim of the envisaged new bill is to ensure 100% prevention.
For this purpose, a percentage of the property insurance will be set aside in the Hail Fund throughout the country. Estimated annual costs for this fund are BGN 28 million, part of which will be covered by the budget, part by a mandatory contribution from farmers, and the rest by insurance.
According to the Ministry of Agriculture, this step would reduce the costs of insurers to cover damages, but on the other hand, the industry commented that this would lead to an increase in the prices of all types of insurance.
EZOK ZAD offers a property insurance product that includes first-class protection for your home and property, including against hail and other natural disasters.
Source: bTV news