(MENAFN- Trend News Agency) TEHRAN, Iran, Aug. 11
Trend:
The head of Central Insurance of Iran (CII) said that Iran insurance companies spent over $35 million for supplementary insurance of the coronavirus patients
Referring the homeowners' insurance, Gholamreza Soleimani said: "In the first quarter of the current Iranian year [started on March 20], 500,000 housing units were insured for damages from floods, earthquakes, fires and natural disasters,' Trend reports citing Mehr News Agency.
Soleimani went on to say that the value of the insurance industry in the world is $6300 billion, and while the per capita insurance in the world reaches $818, this indicator stand at $178 in Iran.
'The insurance penetration rate in the country has increased from 0.5 percent in 1979 to about 2.5 percent today,' he added.
Data released by CII, the body in charge of supervising the industry, shows that the COVID-19 pandemic has impacted the business of insurance companies. Unsurprisingly, insurance companies paid hefty sums in claims in the medical insurance category during first two months of the current Iranian year.
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