Kathmandu. The conflict in the Middle East has significantly affected Iran’s housing and insurance sectors. According to the latest figures released by the Iranian Red Crescent Society, more than 92,000 buildings have been destroyed across Iran. <\/p>\n
The Red Crescent said in a statement that 71,356 residential buildings and 20,399 commercial buildings were damaged in the 92,662 affected units. In addition, 290 health facilities and 600 educational institutions were damaged in the attack. The agency’s 17 centers, 46 ambulances and three relief helicopters were also damaged. <\/p>\n
The conflict has caused significant damage not only to residential buildings but also to hospitals, schools, relief centers, and energy infrastructure. According to local media, attacks in some densely populated areas have left many people homeless. However, it was not possible to manually verify the damage figure. <\/p>\n
Fire and natural disaster insurance for buildings is common in Iran. However, as in international insurance practice, most policies have a ‘war exclusion clause’. This means that damage from war or armed conflict is generally excluded from coverage. <\/p>\n
For this reason, insurance companies are not obliged to provide direct compensation for property damaged by air strikes or missile strikes. As a result, affected individuals and businesses face significant financial risks. <\/p>\n
According to insurance experts, if this situation continues for a long time, the trust of customers in the insurance system may decrease. The government usually undertakes to rebuild in the event of significant war-related damage. In the past, a special fund or commission was set up in Iran to address wartime damage. Similar initiatives are expected in the current situation. <\/p>\n
Rescue efforts and consular services have been limited due to the ongoing conflict. Citizens are advised to remain vigilant due to the security situation. <\/p>\n
According to market analysts, if the conflict continues for a long time, the damage to the housing sector could increase and pressure on the insurance sector could increase. The rising reconstruction costs are likely to have a long-term impact on the overall economy. \u2013 Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. The conflict in the Middle East has significantly affected Iran’s housing and insurance sectors. According to the latest figures released by the Iranian Red Crescent Society, more than 92,000 buildings have been destroyed across Iran. The Red Crescent said in a statement that 71,356 residential buildings and 20,399 commercial buildings were damaged in the […]<\/p>\n","protected":false},"author":16,"featured_media":292843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45044,45159],"tags":[],"class_list":["post-292845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/292845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=292845"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/292845\/revisions"}],"predecessor-version":[{"id":292846,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/292845\/revisions\/292846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/292843"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=292845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=292845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=292845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}