Climate risks are making properties 'uninsurable' in the European Union
Natural and climate-related disasters, such as floods and heatwaves, pose a risk to the financial resilience of the European Union (EU), with these phenomena having an increasing impact on access to housing, according to environmental organisation WWF. 'What is not insurable is not financeable.' Property owners and businesses in areas ...
OECD recommends mandatory earthquake insurance for all buildings
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 ...
Howden awaits the establishment of the Seismic Fund in Portugal
In Spain, the Consorcio de Compensación de Seguros (CCS) – the public body that provides protection against high‑impact events that are outside the scope of private insurance cover, including risks such as floods, earthquakes or volcanic eruptions – selected reinsurance broker Howden Re, in partnership with Howden Iberia, to carry out ...
