Insurers braced for surge in claims after Greek wildfires destroy homes


Insurers braced for surge in claims after holiday homes of the super-rich are destroyed by Greek wildfires

City & Finance Reporter for the Daily Mail

The wildfires ravaging Greece are thought to have triggered a surge in insurance claims from super-rich families with waterfront holiday homes.

Insurer Hiscox, which covers wealthy clients worldwide, is braced for an influx of claims after the disaster. 

The fires have killed at least 91 people, and were so intense that they burned out cars and destroyed beachfront houses.

Flames threaten to engulf a house in Kineta, near Athens, last week. Insurer Hiscox, which covers wealthy clients worldwide, is braced for an influx of claims after the disaster

Flames threaten to engulf a house in Kineta, near Athens, last week. Insurer Hiscox, which covers wealthy clients worldwide, is braced for an influx of claims after the disaster

Flames threaten to engulf a house in Kineta, near Athens, last week. Insurer Hiscox, which covers wealthy clients worldwide, is braced for an influx of claims after the disaster

Hiscox boss Bronek Masojada said: ‘We will inevitably have some losses from the fires. 

‘I would be very surprised if we didn’t have some holiday homes affected.’ 

He added there will be no effect on profits.

The firm posted profits of £124.7million for the first six months of 2018 – up 27 per cent on a year earlier.

 

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