The EAEE survey provides the first estimate of the Greek insurance market's payments for property and motor insurance losses from the extreme weather events (Bora storm) that hit Greece during the period 30 November - 2 December 2024, insurancedaily.gr writes.

According to the data of the insurance companies that participated in the EAEE survey, a total of 1,832 losses were reported. Total amount of payments is estimated at EUR 18.7 million.

Of these, 1,368 losses are related to property insurance (estimated payments of EUR 17.5 million), 462 losses are related to motor insurance (estimated – EUR 1.2 million) and 2 losses are related to boat insurance (estimated – EUR 11 thousand).

“Based on the data we collect on natural disasters, in recent years the consequences of catastrophic events have been particularly severe, both in terms of frequency and severity. Specifically, regarding incidents of heavy rainfall, we have recorded 17 incidents from 2014 to 2024 with a total compensation amount of EUR 509 million for 13,344 damages. The Greek insurance market is responding quickly and consistently to its policyholders who suffered losses from the Bora storm that swept the country at the end of 2024, causing serious damage”, commented the Chairman of the Property, Transport & Reinsurance Committee, Errikos Moatsos.