Insurance Will Pay for Bojnurd Quake-Hit Buildings

Insurance Will Pay for Bojnurd Quake-Hit BuildingsInsurance Will Pay for Bojnurd Quake-Hit Buildings

The earthquake on Saturday measuring 5.7 degrees on the Richter scale and its aftershocks over the following days (26 till Sunday morning) has damaged 40% of residential buildings in Bojnurd County, North Khorasan Province.

“Last year (ended March 20), all residential buildings in villages across the province, which is prone to natural disasters, were brought under insurance (property) coverage under a plan devised by the government.

Therefore, compensation for the damaged buildings in 11 quake-stricken villages in the recent quake will be paid by insurance organizations,” said Mohammad Farid Latifi, deputy for reconstruction at the Crisis Management Organization, ISNA reported.

 “The government will also provide financial assistance to the tune of $1,500 (60 million rials) to every household affected by the quake,” he said.

Loans of $7,500 (300 million rials) at 5% (15-year repayment) will also be given to the affected households.

The quake which struck at 10:30 pm local time on Saturday in and around Bojnurd killed two people, injured 400 and caused widespread damage.

According to Pir-Hossein Kolivand, head of Iran’s Emergency Medical Services, around 343 people received outpatient help, and 57 were hospitalized for treatment of injuries in three medical facilities in the province.

Currently, 33 teams of the Iranian Red Crescent Society are assisting the quake-affected families. On Sunday, 473 emergency tents were set up in the region to accommodate the families. Aftershocks forced officials to close schools on Sunday and Monday.

The region is on an active fault line stretching from Turkmenistan’s capital Ashkhabad into Iran’s three provinces of north, central (Razavi) and south Khorasan.

On May 28 last year, an earthquake measuring 4.8 degrees on the Richter scale in Bojnurd County also caused damage to several residential buildings.

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