Survey: Only 13% of Property Damaged by Greek Wildfires Was Insured

September 28, 2021

ATHENS — Only 13 pct of houses and enterprises hit by the wildfires in August were insured, a survey by the Hellenic Association of Insurance Companies said on Tuesday. The survey offered a first estimate of the damages from the catastrophic fires that hit several areas in the country last August, with 778 insured damages worth 38.5 million euros, of which 742 were property insurance (38.3 million euros) and 36 were vehicle insurance (200,000 euros).

More specifically, the total insured value of damaged properties was 410.4 million euros, of which 353.2 million in the Attica region. The average insured damage was 51,568 euros said Ericos Moatsos, president of the Property Commission of the Association, who added that insurance companies acted swiftly and responsibly to record damages and process claims for compensation and noted that the catastrophic wildfires of the summer proved once again the low rate of insurance coverage of houses and enterprises in Greece.


ATHENS — Credit ratings company Fitch has revised Greece’s outlook to positive from stable, although it kept the country’s rating at BB, two notches below investment grade.

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TNH’s Happenings of the Week by Eraklis Diamataris

The National Herald’s Happenings of the Week (Jan 8 – Jan 15) as have been reported at the print and digital editions of TNH and presented by the TNH Editor Eraklis Diamataris.