Latest news and stories about natural disaster in finance in Portugal for expats and residents.
The Portuguese government is preparing a policy proposal to introduce mandatory home insurance covering natural disasters, aiming to mitigate mounting financial vulnerabilities in the domestic property market amidst escalating climate risks.
The Portuguese government is planning to introduce mandatory home insurance coverage for natural disasters, aiming to fortify property market resilience against escalating environmental risks.
The Portuguese government has implemented tax moratoriums for those affected by Storm Kristin, yet notably excluded invoice validation for IRS purposes, leaving taxpayers and accountants facing a missed March 2nd deadline.
Only around 25% of Portugal’s properties and infrastructure are insured against natural disasters, a weakness exposed by a recent week of severe storms. Material damages are still being assessed while major multi-risk insurers — notably Fidelidade, Generali Tranquilidade and Ageas — are accelerating claims handling on the ground. The low insurance penetration highlights underinsurance and significant fiscal and economic exposure, creating both reputational and commercial opportunities for insurers to expand coverage. Analysts say the event underscores the need for faster claims processes, clearer public–private risk-sharing mechanisms, targeted incentives to raise uptake, and investments in resilience and risk mapping as climate-driven extreme weather becomes more frequent.
The Portuguese Association of Insurers announced today in Lisbon that 224,000 claims were received due to the bad weather that hit the country at the beginning of the year and that 96% of claims related to private individuals have been settled.
The Portuguese Association of Insurers (APS) released the latest data this Thursday regarding the damage caused by the train of storms, which caused destruction in several regions of the country's central zone between January 27 and February 13. So far, 193,000 claims have been filed with insurers, with...
The proposal also includes a complementary mechanism based on loans, intended to act as a financial safety net in extreme cases that exceed the fund's capacity.
