Analysis of insurance companies operating in Slovakia in terms of flood risk insurance

Analysis of the trends and spatial variability of flood insurance coverage in Slovakia pointed to the decreasing interest of people in property insurance against flood risk. There are several causes for this. One of them possibly lies in the conditions of insurance companies concerning flood risk insurance, which among other things also specify limits and exclusions from insurance. The majority of the insured are not aware of these facts at the time of signing the contract and the rejection or reduction of payments for flood damage is then a source of frustration. The paper analyses flood insurance conditions in all insurance companies in Slovakia, which offer building and contents insurance in terms of five aspects: (1) definition of concepts connected with flood hazard, (2) inclusion of flood risk into insurance modules of companies, (3) scope of property which is the object of the insurance, (4) exclusions and limits to flood risk insurance, and (5) the amounts of the premiums and claims.