Baltic states roll out home insurance against war damage

Residents of the Baltic states can now purchase home insurance coverage that includes damage resulting from military and political conflicts, relevant program by the insurance joint stock company BTA Baltic Insurance Company stated.

“In response to the geopolitical uncertainty and several cases where foreign drones have crossed Latvian airspace, the joint-stock company is starting to offer insurance against military incidents to private property,”  BTA Baltic Insurance Company said in a statement.

The additional coverage applies to damage to residential property caused by military actions, including drone attacks, as well as terrorist attacks, civil unrest, armed political conflicts and uprisings.

A similar insurance program is being offered by Swedish bank Swedbank, which operates across the Baltic states. However, the bank clarified that the coverage does not apply to damage resulting from a conflict involving two or more of the five designated world powers — China, France, Russia, the United Kingdom and the United States.

The coverage also excludes damage resulting from the use of nuclear, chemical or biological weapons, as well as cyber and electronic attacks. Swedbank’s additional protection is initially available to all of its customers in the Baltic states for six months.

The new insurance offerings come as Baltic countries continue to strengthen their preparedness for potential security threats.

On August 15, Estonian media reported that the country had deployed its first specialized radars for the rapid detection of drones along the Estonian-Russian border between Narva and Narva-Jõesuu.

The next step is expected to involve the large-scale deployment of active counter-drone systems, which are planned to be rolled out across Estonia over the longer term, including along the Baltic Sea coast, to counter potential threats.

By Vafa Guliyeva