Natural Catastrophe Insurance Decree and Closing the Insurance Gap: Italy issued a decree requiring businesses to obtain insurance coverage for natural catastrophes
by Aldo Balestreri and Nicola Biscaglia
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Aldo Balestreri RI is principal and managing director for Milliman’s practices in Italy and Central and Eastern Europe | ||
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Nicola Biscaglia principal and managing director for Milliman’s practices in Italy and Central and Eastern Europe. |
In response to the increase in extreme climatic events such as convective storms, floods, and wildfires, the Italian Ministry of Economy and Finance issued a Natural Catastrophes Decree in 2025 to force enterprises to subscribe insurance coverages against these events, with implementation timelines based on their size:
• Large Enterprises: with 97% already insured against natural catastrophes, mandatory insurance commenced on April 1, 2025.
• Medium Enterprises: currently, 72% are insured, with mandatory coverage starting in October 2025.
• Small and Micro Enterprises: only 19% and 4% are insured, respectively. Mandatory insurance will begin in January 2026.
Disclaimer: This article represents the opinion of the authors, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 42 – June 2025
