Government: Insurance news in Portugal

Latest news and stories about insurance in government in Portugal for expats and residents.

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Government Plans Mandatory Home Insurance for Natural Disasters

🏠 Property 🏛️ Government#insurance+3 more

Homeowners in Portugal may soon be required to carry insurance against natural disasters under rules being prepared by the government. The measure is part of the government's recovery and resilience framework developed after severe storms caused widespread damage earlier this year. The proposal links compulsory coverage to a new Natural and Seismic Catastrophes Fund to help households and businesses recover from extreme weather and earthquakes.

1 source →24 Oct

Government Evaluates Mandatory Catastrophe Insurance for Residential Properties

📍 Leiria 🏛️ Government 🏠 Property#property-market+3 more

Policy discussions are underway regarding mandatory catastrophe insurance for Portuguese homes following widespread storm and fire damage this year. Industry data shows that roughly 45% of residential properties in Portugal lack coverage against climatic hazards like floods and wildfires, while only 19% have earthquake protection. In response to recent fire seasons, the government also expedited more than one million euros to local volunteer firefighter corps (corpos de bombeiros) to help absorb extraordinary operating costs.

2 sources →22 Oct

Recent articles

INEM budget increases by 30% with new compulsory insurance

🩺 Health 🏛️ Government 💶 Finance#insurance+2 more

The budget for the National Institute of Medical Emergency (INEM) is set to increase by 30% in 2027 to 330.9 million euros, compared to the amount forecast for this year. The financial boost is largely based on the expectation of new revenue from the extension of mandatory home insurance and risk coverage...

eco.sapo.pt23 Oct

INEM budget increases by 30% with new compulsory insurance

INEM budget grows by more than 100 million, but depends on mandatory housing insurance yet to be approved

🩺 Health 🏠 Property 🏛️ Government#insurance+2 more

The Ministry of Health estimates an increase of 117 million euros in INEM fees, “supported by the expectation of extending the requirement to take out insurance policies” for housing and catastrophe risks.

publico.pt23 Oct

Minister wants European agricultural reinsurance mechanism

🏛️ Government 💶 Finance#insurance+2 more

José Manuel Fernandes advocates for the creation of a European mechanism as a response to the failures of the national insurance market. The minister warned about climate change and the spread of pests.

observador.pt13 Oct

Minister wants European agricultural reinsurance mechanism

OE2027: Tax expenditure on life insurance exemptions increases by 180 million

💶 Finance 🏛️ Government#insurance+2 more

The Stamp Duty exemption applied to premiums and commissions for life insurance will represent a tax expenditure of 524.4 million euros in 2027, an increase of approximately 180 million euros compared to the 340 million euros forecast in the 2026 State Budget. The measure was first introduced in the year 2000.

eco.sapo.pt8 Oct

OE2027: Tax expenditure on life insurance exemptions increases by 180 million

Mário Centeno to become board member of the insurance company of the Spanish group Abanca

💶 Finance 🏛️ Government#insurance+2 more

Mário Centeno will be a non-executive director at one of the insurance companies of the Spanish group Abanca, marking an almost unprecedented role in the private sector, ECO learned from market sources. The former governor of the Bank of Portugal -- a post he held between 2020 and 2025 -- who subsequently had a brief stint as a consultant ...

eco.sapo.pt7 Oct

Mário Centeno to become board member of the insurance company of the Spanish group Abanca

Swiss firm Hagel to provide insurance for Madeira bananas

💶 Finance 🏛️ Government#insurance+2 more

The Swiss insurer Hagel, which recently entered the Portuguese market, has won the public tender to provide crop insurance for 2,750 Madeiran farmers who collectively produce over 22,000 tonnes of Madeira bananas annually. The contract was awarded for approximately 669,000 euros, below the base price of 713,000 euros set by the authorities.

eco.sapo.pt14 Sept

Swiss firm Hagel to provide insurance for Madeira bananas

Leiria City Council agrees that mandatory home insurance should exist

🏠 Property 🏛️ Government#insurance+2 more

The mayor says it is “extremely important” that a support system for those suffering from storms or other catastrophes is “pre-emptively secured”.

cmjornal.pt19 Aug

Leiria City Council agrees that mandatory home insurance should exist

Ombudsman identifies failures following storm Kristin and recommends disaster fund

🏛️ Government 🏠 Property ⚖️ Legal#insurance+3 more

The Ombudsman identified significant constraints in the distribution of support created after storm Kristin and advocates for a national regime and a fund to respond to natural and seismic disasters. The institution presented 38 recommendations to improve evacuations and the protection of vulnerable populations. The findings, released in two reports, highlight delays in processing applications and structural issues in the insurance sector, such as low coverage and difficulties in accessing insurance in high-risk areas. Proposals include a mandatory insurance system for homes and businesses, a single digital platform for managing disaster aid, and better adaptation of warning systems for the elderly and people with disabilities.

dn.pt19 Aug

Ombudsman identifies failures following storm Kristin and recommends disaster fund

200,000 homes damaged by the train of storms identified

🏠 Property 🏛️ Government#insurance+2 more

Six months after the storm 'Kristin', 35,908 applications for state support were registered and 179,046 are being paid by insurance companies.

cmjornal.pt29 Jul

200,000 homes damaged by the train of storms identified

ASF President: “Storms may lead some insurers to losses in 2026”

💶 Finance 🏛️ Government#insurance+2 more

The president of the Insurance and Pension Funds Supervisory Authority (ASF), Gabriel Bernardino, was heard this Tuesday at the Assembly of the Republic by deputies of the Budget, Finance and Public Administration Committee, in a hearing scheduled for the presentation of the Activity Plan of the regulatory and supervisory entity for insurance and pension funds.

eco.sapo.pt21 Jul

ASF President: “Storms may lead some insurers to losses in 2026”

Government replaces ASF supervisory board four years after mandate expiry

🏛️ Government 💶 Finance#insurance+2 more

The Insurance and Pension Funds Supervisory Authority (ASF) has a new supervisory board. Finance Minister Joaquim Miranda Sarmento appointed Rui Manuel Correia Pedras as chairman, Eduardo Marques Ferreira as statutory auditor member, and Dalila Teresa Carvalho Ferreira as member. The appointments were published in the Diário da República.

eco.sapo.pt2 Jul

Government replaces ASF supervisory board four years after mandate expiry

Praia da Vieira: PCP criticises insurance companies' 'delays' in paying compensation to storm victims

🏛️ Government ⚖️ Legal#insurance+3 more

The PCP accuses insurance companies of 'evading their responsibilities' regarding the payment of compensation following the storms that caused significant damage in several municipalities in the central region of the country at the beginning of the year, and points to cases of 'blackmail' against small business owners.

rtp.pt14 Jun

Praia da Vieira: PCP criticises insurance companies' 'delays' in paying compensation to storm victims

“Answers continue to be missing”: PCP criticises Government's lack of action in Leiria and downplays pressure from the President of the Republic

🏛️ Government ⚖️ Legal#insurance+2 more

On the first day of parliamentary sessions, the communists attacked the Government for the “few or late” responses to the areas affected by the storms. At Praia da Vieira, in the Leiria district, they demanded “accountability” from insurance companies, but disagreed with the Executive regarding the mandatory nature of insurance.

expresso.pt14 Jun

“Answers continue to be missing”: PCP criticises Government's lack of action in Leiria and downplays pressure from the President of the Republic

Assembly of the Republic establishes May 10th as National Insurance Day

🏛️ Government#insurance+1 more

The Assembly of the Republic decided last Friday, 'under the terms of the provisions of paragraph 5 of article 166 of the Constitution of the Portuguese Republic', to establish May 10th as National Insurance Day, formalising a movement that had long been seeking this proclamation. The initiative came from the PS, following extensive work by...

eco.sapo.pt24 May

Assembly of the Republic establishes May 10th as National Insurance Day

Storm damage: Minister to have "a conversation with insurers"

⚖️ Legal 🏛️ Government#insurance+2 more

The Minister of Economy says he will have “a conversation” with insurance companies to speed up payments to those affected by the storms. Castro Almeida acknowledges that “there is still much to be done regarding support for claims up to ten thousand euros.”

rtp.pt22 May

Storm damage: Minister to have "a conversation with insurers"

Minister of Economy wants advance payments for those affected by the storms and will have 'a conversation' with insurers

🏛️ Government 💶 Finance#insurance+2 more

Manuel Castro Almeida said he wants to 'draw attention to the opportunity' for insurers to 'make advances on account of the amounts that will be determined' in the compensation process for damages.

expresso.pt22 May

Minister of Economy wants advance payments for those affected by the storms and will have 'a conversation' with insurers

CGD President advocates for the creation of a catastrophe fund

💶 Finance 🏛️ Government#insurance+2 more

Paulo Macedo also states it is “fundamental” to increase the number of mandatory insurance policies to improve preparedness for calamity situations.

cmjornal.pt19 May

CGD President advocates for the creation of a catastrophe fund

Government expects calamity insurance to be in force by 2027

🏛️ Government 💶 Finance#insurance+2 more

The government anticipates that a new insurance scheme covering natural disasters will be operational by 2027.

SÁBADO18 May

Government expects calamity insurance to be in force by 2027

Government expects calamity insurance to be in force by 2017

🏛️ Government 💶 Finance#insurance+2 more

Castro Almeida guaranteed that low-income families will receive state support to pay for the mandatory insurance, which is included in the PTRR programme and the disaster fund announced in April.

observador.pt18 May

Government expects calamity insurance to be in force by 2017

Government to support low-income families with mandatory catastrophe insurance payments

🏛️ Government 🏠 Property#insurance+2 more

The Minister of Economy, Castro Almeida, announced in Lisbon that the government will provide financial support to vulnerable households for the new mandatory catastrophe insurance on homes and factories, part of the Portugal Transformation, Recovery and Resilience (PTRR) programme. While specific amounts remain to be defined by decree, the minister highlighted the creation of a catastrophe fund financed by these mandatory premiums. The PTRR, with a total budget of 22.6 billion euros over nine years, aims to address recovery needs following recent storms.

dinheirovivo.dn.pt4 May

Government to support low-income families with mandatory catastrophe insurance payments

Letters to the editor

🏛️ Government 🏠 Property#insurance+2 more

A section of a newspaper or publication featuring letters sent by readers to the editor.

publico.pt30 Apr

PTRR. Measures contribute to a "safer society"

🌱 Environment 🏛️ Government#insurance+2 more

The Portuguese Association of Insurers considers the measures against natural disasters to be positive. President José Galamba de Oliveira hopes they will move forward by the end of this year.

observador.pt29 Apr

PTRR. Measures contribute to a "safer society"

PM announces the creation of a catastrophe fund with mandatory insurance

🏛️ Government ⚖️ Legal#insurance+2 more

The Prime Minister has announced the establishment of a new fund to address natural disasters, which will be supported by a mandatory insurance scheme.

rtp.pt29 Apr

PM announces the creation of a catastrophe fund with mandatory insurance

Insurance will (really) be mandatory for homes and businesses

🏠 Property 🏛️ Government ⚖️ Legal#insurance+3 more

The establishment of a 'natural and seismic disaster fund, with a reform of the risk coverage regime and the creation of mandatory insurance for homes, supported by a solidarity mechanism to ensure universal access' is one of the first measures provided for in the PTRR – Transformation, Recovery and Resilience Plan, presented this Tuesday by the Government.

eco.sapo.pt28 Apr

Insurance will (really) be mandatory for homes and businesses

EY and family ties constrain new ASF administrator

🏛️ Government 💶 Finance#insurance+2 more

The new administrator of the Insurance and Pension Funds Supervisory Authority (ASF), Carla Sá Pereira, is barred from participating in processes involving her husband, Eduardo Farinha Pereira, who is the regulator's director of conduct supervision. This impediment is “total and permanent,” the supervisory entity led by Gabriel Bernardino guarantees to ECO.

ECO21 Apr

EY and family ties constrain new ASF administrator

The notebook full of complaints that Seguro brings from the Open Presidency

🏛️ Government ⚖️ Legal#insurance+2 more

“For God's sake, Mr. President, make the insurance companies provide us with insurance. We have already received a letter from the company stating that they will not renew the policy and no one is helping us.” The plea, in a tone filled with despair, comes from Aldina Faustino, addressed to António José Seguro, while she points to what little remains of...

ECO10 Apr

The notebook full of complaints that Seguro brings from the Open Presidency

"A lot needs to change for us to have a top-tier supervisory entity," says Gabriel Bernardino

🏛️ Government 💶 Finance#insurance+2 more

The president of the Insurance and Pension Funds Supervisory Authority (ASF) says that the budgetary management rules imposed on the regulator are restrictive and prevent it from moving forward with reforms he considers fundamental.

Expresso8 Apr

"A lot needs to change for us to have a top-tier supervisory entity," says Gabriel Bernardino

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