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Recent Russian meteor damage raises insurance concerns

Recent events have brought up important questions about insurance coverage for meteor strikes. Fortunately, in most cases, clients seem to be covered.
Recent events have brought up important questions about insurance coverage for meteor strikes. Fortunately, in most cases, clients seem to be covered.

Those who deal with emergency or catastrophe services have to prepare to contend with a variety of different types of events. The recent arrival of a meteor into the Ural Mountains region of Russia (near the city of Chelyabinsk) shocked much of the world and left hundreds of people injured. As the country continues to recover, we are left with many questions, not the least of which is: are meteor strikes covered under insurance?

In America, at least, the answer is: yes, usually. In most cases, such an (extremely rare) occurrence would fall under the same conditions as other natural disasters unless specifically excluded. For the time being, there do not appear to be any outstanding claims of insurance negligence.

One reason there was so much footage of the meteor's explosion is the common practice, in Russia, of having cameras affixed to the dashboards of cars to prevent against attempts at fraud, which are common. This has brought attention to this idea, and so it's not unreasonable to wonder about the fate of those who have seen extensive personal or property damage due to this disaster. 

Insurance Journal quoted analysts AIR Worldwide in response to this, and they seemed to agree that this sort of damage would be taken care of, saying  "…a comprehensive multi-peril insurance policy generally will cover all risks that are not specifically excluded, meaning that meteorite damage would generally be covered. The dwelling portion of the homeowner policy is very broad and, if damage from falling objects is not listed in the exclusions, it is generally covered."

According to AIR, the blast also resulted in thousands of cases broken glass, destroyed roofs, and other forms of property damage.

Without a doubt, providers having to respond to such dramatic circumstances are under great pressure to do so. Claims outsourcing can increase the chance that insurance companies will find an effective solution. 

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