As we all know, insurance policies are a crucial part of our financial planning. They provide us with a sense of security and peace of mind, knowing that we are protected against unforeseen events. However, there are certain situations where insurance policies do not provide coverage, and one of them is damages caused by war.
This is where “Keren Pitzuim” (Israel Compensation Fund) comes into play. This fund was established to provide compensation to victims of war damages who are not covered by insurance policies. The fund is financed by the Israeli government and is managed by a committee of experts.
The fund provides compensation for damages caused by war, including damages to property, businesses, and personal injuries. The compensation is provided to Israeli citizens and residents who have suffered damages because of war, regardless of their insurance coverage. It is important to note that the fund also provides compensation for damages caused by terrorist attacks.
The importance of this coverage for property and business owners in Israel, especially in the areas near the border, as is the case in the war that began on October 7, 2023
In conclusion, the fund is an important resource for those who have suffered damages as a result of war and are not covered by insurance policies. It provides a safety net for those who need it most and helps to alleviate the financial burden that can come with war damages.