Natural catastrophe risks and insurance protection gap

Italy is exposed to natural disasters more than many other European countries. The characteristics of the territory make it prone to landslides and floods, phenomena that have intensified over the years and have become less predictable due to climate change. Seismic risk is also high; although not related to climate change, its characteristics are similar to catastrophic climate risks because it manifests itself in rare but extremely damaging events. All these extreme events can pose significant risks to the community.

Despite its high exposure, our country is characterized by a low level of insurance coverage. According to EIOPA data for 2023, Italy is among the European countries with the highest protection gap. Earthquake is the event with the lowest level of coverage, followed by floods, fires and storms.