Only 1 in 7 households is insured in Sverdlovsk Region

10 February 2014 (09:30)

February 10, 2014. 1,777,000, or about 14.1% of all Sverdlovsk Region-based households had their property insured against fire and other damage in 2013. This figure is compatible with the country’s average (14% excluding Moscow and Saint Petersburg), SOGAZ Insurance Group’s Analytic Research & Market Forecast Center reports.

As for Ural Federal District, Sverdlovsk Region proved second best insured federal constituency, preceded by Tyumen Region with its 14.5%. 12% of private households are insured in Kurgan Regaion, and 11.1% are insured in Chelyabinsk Region.

Accorrding to SOGAZ analysts’ forecast, Sverdlovsk Region’s private property insurance market has gone up by 12.3% in 2013 compared with 2012 and will reach 832m RUR, while in Russia on the whole, insurance fees on this type of insurance will come to over 30bn RUR and will rise by about 18.3%. As a matter of fact, Sverdlovsk Region market has been growing not due to the increase in the number of insurance contracts (this figure actually declined by 0.3% down to 187,200 in the nine months of 2013) but due to the rising costs of insurance: the median figure for a private individual’s insurance contract came to 3,189 RUR in the nine months of 2013, which is 13.4% more than a year earlier.

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