Latest news and stories about natural disasters in finance in Portugal for expats and residents.
The Portuguese government is planning to introduce mandatory home insurance coverage for natural disasters, aiming to fortify property market resilience against escalating environmental risks.
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 European Insurance and Occupational Pensions Authority (EIOPA) and the European Stability Mechanism (ESM) propose the creation of a European insurance fund against natural disasters, supported by a complementary instrument based on loans.
The insurance would be supported by a complementary instrument based on loans.
Natural disasters caused worldwide damage of $224 billion (€192 billion), 39% less than the previous year, by 'pure luck', says a report released on Tuesday by the German reinsurer Munich Re. In Africa, 'they resulted in losses of approximately $3 billion (€2.5 billion), ...
Global economic losses from natural disasters fell last year, but the effects of extreme events continue to cause major concern, warns German insurer Munich Re — one of the world's largest.
In 2025 total economic and insured losses from natural disasters declined compared with previous years, helped by fewer major events and improved preparedness. Despite the drop, overall damage levels remain worryingly high, with climate change, urbanisation and vulnerable infrastructure keeping long‑term costs elevated. Experts and insurers call for stronger mitigation, adaptation and financing measures.
Economic losses from natural disasters worldwide fell by nearly 40% in 2025, but the global outlook for extreme weather events remains alarming, Munich Re said today.
Economic losses from natural catastrophes worldwide fell by almost 40% in 2025, but the global outlook for extreme weather events remains alarming, Munich Re said today.
Current geopolitical and economic instability, along with the increase in frequency and severity of natural disasters, will dictate the insurance sector's next steps. Add to that technological evolution and the constant need to implement these tools in the sector's operations, and you have a picture of an industry undergoing profound transformation. Consumer expectations ...
The Organisation for Economic Co-operation and Development (OECD) recommends that Portugal establish a formal public–private risk-sharing mechanism, making insurance against natural disasters mandatory for all buildings. The Government, for its part, acknowledges the “clear market failure” and says it is working on “mechanisms” aimed at achieving widespread adoption ...
