Generali likely to settle biggest claim on insurance market

Generali, a top ten insurer, is likely to settle the biggest claim on the domestic insurance market in the wake of the fire that broke last week in Dragonul Rosu shopping complex of Bucharest, which it has insured starting this year. “On the basis of the material damage complex insurance policy, also covering fire risks, we will promptly assess and handle the damage file. According to the first internal estimates, we are likely to witness the biggest claim in the history of the Romanian insurance market. We have no reasons of concern, though,” said Marie Kovarova, Generali general manager. The sum to be paid could thus top the 10m dollar level of the biggest claim so far on the insurance market, settled by Astra Asigurari after a Tarom aircraft was damaged in December 2007. Generali last year was among the insurers that paid the biggest claims. Thus, the company paid 1.2m euros after a fire broke out at a building it had insured. Dragonul Rosu complex is controlled by businessman Nicolae Dumitru through Niro group of firms. In the wake of the fire, 38,000 square metres of stores were damaged and a fireman died.