Billion damage from 19 storms in Greece

Billions of euros are the financial losses to homes, businesses, agricultural – livestock and infrastructure, which caused 19 in Greece from 2015 to 2023. From the bad weather that struck the whole country on 20-23 October 2015 leaving behind 3 dead until September 2023 that we have the great destruction of the storms of the bad weather Daniel, only the insured losses, i.e. compensation for those who had secured their property reaches around 525m euros. The uninsured damage, that is, the “empty” in the losses not covered by the insurance market and borne in one place the state and in a large part the citizens were four times as many as five times as many. As Mr. Panayiotis Stratis, an expert, explains, “given that at a nationwide level approximately 17% of the homes and 20% of the total businesses are insured, the financial loss from these disasters is undoubtedly multiple, possibly more than 22,5 billion euros. Especially in the case of Thessaly the percentage of insured dwellings was below 10%, while uninsured businesses, especially small ones, were largely uninsured.” Important data on natural disasters and how much they affect the economy and local communities publishes the EAEE NatCatMonitor platform, which gathers significant data in relation to insured losses. Unfortunately, however, there is not at present a central mechanism that collects and records accurate data on the total financial losses per natural disaster, as well as the compensation given by the state. Vicky Gerasimou (Publicist www.insurancedaily.gr, Editor of Insurance Marketing magazine)