Portugal

ASF insists on compulsory disaster insurance

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 07/10/2026, 17:11:25 UTC.

Briefings

The Portuguese regulator ASF acknowledged a gap between consumer expectations and actual insurance coverage, proposing a public simulation system to clarify reconstruction costs. Data from July showed 223k insured claims costing 1.45 billion euros against 5.3 billion euros in national losses, leaving only 26% coverage. The ASF also highlighted underinsured corporate losses and proposed a national disaster fund covering natural and climate risks.

Key points

• The ASF president Gabriel Bernardino identified a 'gap' between consumer expectations and actual insurance coverage, noting that consumers often expect full reconstruction value coverage but only receive half if the capital is set at half the reconstruction value.
• The regulator proposed a public simulation system to help consumers understand potential reconstruction costs, aiming to prevent underinsurance and improve transparency in insurance contracts.

Context

The ASF is addressing a significant insurance gap in Portugal, where consumers expect full coverage for property reconstruction but often receive only half due to low capital settings. This finding comes after a July study revealed 223k insured claims costing 1.45 billion euros against 5.3 billion euros in national losses, leaving only 26% coverage.

Limitations

Evidence covers only the ASF's July study and March government proposal; no data on current private market rates, specific claim outcomes, or future regulatory changes is provided.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 30/10/2026, 21:36:25 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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