The Deputy Minister of Finance of Russia proposed compulsory home insurance in emergency risk zones

MOSCOW, September 29 - RIA Novosti. The construction of housing in areas with risks of natural emergencies must be insured, this will help reduce the budget burden and create incentives for citizens to take a conscious approach to building a house, Deputy Minister of Finance of Russia Ivan Chebeskov said in an interview with RIA Novosti.

“Given the large territory of our country, emergency situations, primarily of a natural nature, occur in one region or another every year. And the federal budget is responsible for payments. We have long wanted to use the insurance mechanism in order, firstly, to reduce the budget burden, and secondly, to create incentives for citizens to take a conscious approach to building a house,” Chebeskov said on the sidelines of the Mosfinforum.

He recalled that in 2019 a law on voluntary home insurance was adopted, but, unfortunately, the mechanism never worked. Therefore, there is now a discussion about compulsory home insurance for citizens who plan to build a house in areas with high risks of emergency situations.

“Citizens who are going to build houses in areas exposed to such risks must understand that when buying insurance, these risks must be managed,” the deputy minister concluded.