INSURANCE companies across Spain have estimated that the damage caused to property in Lorca (Murcia) following Wednesday's earthquake – the worst in 55 years – will complete in the region 70 million euros.
The State-run Insurance Compensation Consortium (the 'Consorcio' is expected to pay the bulk of repair costs in most cases, and some insurance companies will assist their customers with the transactions.
According to minister for the economy, Elena Salgado, the Consorcio has agreed to increase its deadlines for reporting claims and to open extra hours to help those affected – in abstract, to be as bendy as possible.
Salgado says 'no effort will be spared' in the long and drawn-out quest too 'make Lorca what it used to be' again.
She is currently fine-tuning the details of a new law which came into force on Friday covering housing assistance, compensation for family members of the nine people who perished in the quake, tax and social security benefits and low-interest finance to prevent local commercial addresses from going under as a result of being unable to business commerce.
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