After the amendment of the Law on compulsory insurance of households against earthquakes, landslides and floods, which increased the price of the insurance contribution by about 30%, FACIAS asked the ASF for details and explanations.
We asked for clarification on the status of insurance policies, their number, the amount of compensation paid and the money received by insurance companies.
The picture we are presented with is as clear as can be. In 2021, insurance companies collected 35 million euros and paid out 0.6 million euros in compensation. In 2022, insurance companies collected 36 million euros and paid out 0.4 million euros in compensation.
In the light of the huge disproportion between the amounts collected by insurers and the amounts paid out in damages, and given that the compensation ceiling has not changed and is still no more than €20,000, FACIAS proposes increasing it to €26,000 for type A dwellings OR compulsory insurance to cover other risk situations.
