What happens to insurance companies in situations like this?
this post was submitted on 15 Apr 2024
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Floods are often excluded from coverage. I had a fun old time reading my moped insurance 15y ago, they had all kinds of exclusions a for larger events (like nuclear war). Also, I don't know this part of the world specifically, but speaking in boarder terms, Russia is richest near it's capital and the differences are not small, so the amount of insured homeowners might be smaller then we anticipate.
This is the best summary I could come up with:
More than 125,000 people have been displaced by flooding in Russia's southern Ural region and northern Kazakhstan, authorities said on Monday.
Swiftly melting snow swelled several rivers in the region last week, including the Ural, Europe's third-largest river, with authorities saying that water levels had risen by meters in a matter of hours to the highest levels ever recorded.
Some 1,000 homes were flooded in the North Kazakhstan region, and over 5,000 people had been evacuated, local officials said.
People were queuing up in front of water trucks moving from one neighbourhood to another in the badly affected city of Petropavlovsk in North Kazakhstan.
The main reservoir supplying the city with drinkable water has been flooded.
Just a few hundred kilometres over the border, Russia's Kurgan, a region of 800,000 people at the confluence of the Ural mountains and Siberia, was grappling with flooding and rising water levels in the Tobol River.
The original article contains 208 words, the summary contains 138 words. Saved 34%. I'm a bot and I'm open source!