A surge in demand for business and financial risk insurance has been reported in Russia against the backdrop of the pandemic. Such data are cited by the Bank of Russia, Izvestia writes.

The number of contracts in these areas rose by 170% and 67%, respectively, exceeding 29 thousand and 10.7 million. At the same time the amount of insurance premiums on such policies increased by 16% and 56%, to 10.4 billion and 17 billion rubles.

The Council of the Association of Professional Insurance Brokers believes that boxed products for small and medium-sized businesses are one of the reasons for the growth in the number of insurance policies purchased. According to Ekaterina Yakunina, the chairman of the council, this also contributed to the increasing number of insurance claims.

Thus, in six months of 2021 the number of payments to consumers under contracts for business risks increased 3.2 times, and for financial risks - 4.1 times, but the amount of remittances decreased by 60% and 45%, respectively.

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