Latest news and stories about natural disasters in property in Portugal for expats and residents.
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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 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 ...
