Coverage of Provisions by Insurance Companies

In order to declare a property as adequate for coverage of the technical provisions required by the Private Insurance Regulation Act, Royal Decree 1348/1985 passed on 1st August, the rules and instructions set forth in the Order 27365 of 30th November 1994, must be followed, and the task must carried out by an authorised valuation firm.

It is particularly important to be cautious when assessing the annual depreciation rate, as well as the value that should be covered by the fire policy.