Possibilities of forest property insurance against the risk of fire in Slovakia

Michaela Korená Hillayová, Klára Báliková, Blanka Giertliová, Josef Drábek and Ján Holécy
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Michaela Korená Hillayová: Department of Forest Resource Planning and Informatics, Faculty of Forestry (FF), Technical University in Zvolen, Zvolen, Slovakia
Klára Báliková: Department of Forest Economics and Management, Faculty of Forestry (FF), Technical University in Zvolen, Zvolen, Slovakia
Blanka Giertliová: Department of Forest Economics and Management, Faculty of Forestry (FF), Technical University in Zvolen, Zvolen, Slovakia
Josef Drábek: Department of Economics, Management and Business (FWST), Faculty of Wood Sciences and Technology, Technical University in Zvolen, Zvolen, Slovakia
Ján Holécy: Department of Forest Economics and Management, Faculty of Forestry (FF), Technical University in Zvolen, Zvolen, Slovakia

Journal of Forest Science, 2021, vol. 67, issue 5, 204-211

Abstract: Fire is considered one of the major natural hazards that damages European forests and causes losses for forest owner. The forest fires endanger the financial stability of forest enterprises, which may cause their economic decline. One possibility how to cover these losses is to insure forest land against this kind of specific risk of forest land management. The aim of the present paper is to analyse possibilities of forest fire insurance for forest owners and enterprises in the Slovak private insurance market. The market analysis was based on document analysis of general terms and insurance conditions of chosen private insurance companies and interviews with insurance agents. The results show that forest owners and enterprises have only few options for forest property insurance concerning the specific risk of forest fires. Only one commercial insurance company provides such forest fire insurance product for forest owners. This insurance covers material damage to forest land and timber damage.

Keywords: forest fires occurrence; risk of forest management; commercial insurance companies (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:caa:jnljfs:v:67:y:2021:i:5:id:199-2020-jfs

DOI: 10.17221/199/2020-JFS

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