Storm damages reach one billion euros as insurers pay out
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.
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.
