Insurance companies are to meet in mid-August to evaluate the damage caused by this summer’s wildfires. The 2014 Västmanland fire cost insurance companies approximately SEK 400 million in compensation to victims and, although not all claims have been received as yet, Staffan Moberg, a lawyer at the Insurance Sweden trade association, is suggesting costs could double. “Given the fact that an area twice the size of the Västmanland area has burnt, the cost could be twice as high, i.e. SEK 800 million. But it’s too early to say what the exact cost will be,” he says.
An estimated 2 million cubic metres of timber to a value of SEK 600 million has burned in the forest fires sweeping across, according to Swedish Forest Agency (Skogstyrelsen). Länsförsäkringar, which insures around 8 million hectares of forest in Sweden, as well as many properties in the affected areas, expects to pay record-breaking claims.
The Västmanland wildfire of 2014 – Sweden’s most expensive fire to date – cost the insurer some SEK 400 million. The cost to the Swedish economy was estimated at SEK 1 billion.
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