The Portuguese Association of Insurers (Associação Portuguesa de Seguradores or APS) has revised the estimated cost of damages from early 2024 storms upward to one billion euros. While insurers have already paid out over 260 million euros, many residents in hard-hit areas like Arruda dos Vinhos remain displaced due to slow state aid and severe infrastructure damage. Property owners should ensure all storm-related claims are documented as the total volume of reported losses continues to rise. Residents in affected regions should check with local councils regarding the status of state support applications.
Storm damages reach one billion euros as insurers pay out
Thursday, 26 March 2026AI summary
Context & Explainers
The Portuguese Association of Insurers (Associação Portuguesa de Seguradores or APS) represents the companies providing insurance services in Portugal. It recently reported that the industry has paid 41% of the €260 million in claims resulting from winter storms. Policyholders should be aware that APS helps coordinate industry-wide responses to natural disasters and regulatory changes.
5 sources
- Lapão residents have yet to return home following the stormsExpresso ·
- Supervisor admits “vulnerability” in loans to areas affected by bad weatherPúblico ·
- Storms: Insurers' losses have already reached one billion eurosECO ·
- Storms: Insurers have paid 41% of damages and will have to compensate one billion eurosDiário de Notícias ·
- Bad weather: Insurers pay 260 million euros out of a total of 1 billion euros in covered losses, says APSRTP Notícias ·
