The Greek insurance market is very well capitalized and has the ability to take on a wider role in managing natural disasters, both in covering the damage and through its role as a long -term investor. This was stated by the Governor of the Bank of Greece, Giannis Stournarasin a discussion with the president of the Spanish Association of Insurance Companies (UNESPA), Mireenu del’s put on like and the President of the Association of Insurance Companies of Greece (UAE), Alexandros Sarrigeorgiouas part of an event recently held at the annual General Assembly of the Union.

“Homes and businesses must be insured so that they can manage difficulties. Comparing the rate of insured houses in Greece, which is 18%, with Spain, which is 76%, it is clear that there is still a long way to go ahead, “he added.

Mr Sarrigeorgiou has over -established a system for managing natural disasters with her participation insurance marketnoting that citizens once rely on the state to cover them after a natural disaster. The truth, however, is that this is no longer true for any state because it is not economically viable. This must be communicated clearly to the citizens.

Earlier, according to the Union’s announcement today, in his introductory speech, the president spoke about the great challenges of the time, climate change, demographic and longevity, stressing that Greece remains dangerously uninsured, resulting in citizens.

“The insurance market can support citizens and the economy for both natural disasters for health and for complementary pension. With 3.5 billion euros of funds, know -how, the ethics and passion of our 50,000 people – from the insurer who started yesterday to the executives of companies – we support our insurance promise, complementary to social security. The insurance market is here. It is time, however, for the state to decide whether in Greece it will give private insurance the role it deserves, “Mr Sarrigeorgiou said.

Its chairman UNESPA He presented the Spanish system of natural disaster management and referred to the flood case in Valencia at the end of 2024. As he said, the disasters suffered by Valencia are estimated at 3.5-4.5 billion euros, explaining that they are covered by a Spanish system, which is a public-friendly cooperation.

Referring to the issue of the impact of natural disasters on society and the economy, as well as how to manage them, he emphasized, inter alia, that the state can provide support to the affected, but this support is not enough to rebuild a home from the beginning or re -operate a correction. This is done by private insurance.

It is recalled that in the first part of the event, as published by the Athens-Macedonian News Agency, the Deputy Prime Minister Kostis Hatzidakis greeted the event, who said that the increase in pension savings, and the rise in Insurance companies.

“Private insurance is a vital gear for the proper functioning of our economy and our daily lives. It provides protection to people, businesses and organizations, ensuring the sustainability of investment and business initiatives. It shields citizens to unpredictable situations, reducing the cost of economic disorders. We are considering the possibilities of further tax relief, always in the context of our fiscal policy, “the Deputy Prime Minister said.

Then the PASOK-KINAL MP George Nikitiadis And he emphasized the importance of private insurance in Greek society, noting that this sector is a key pillar for the protection of citizens from economic risks and uncertainties. “At a time when demographic challenges, climate change and economic uncertainties are increasing the needs of citizens for economic shielding, private insurance can play a complementary role in the welfare state, contributing to a more just and stable society,” said, among other things.

Finally, the Director General of the UAE, Elina Papaspyropoulou, referred to the role of the insurance market in society and the economy and the work of the Union. “The next day of the insurance market is shaped through our commitment to bring insurance closer to everyone. We invest in modern ways of communicating to explain in a simple and understandable way what insurance is, how it works and why we need it. We make use of technology to simplify processes and improve the experience of the insured, “said Mrs Papaspyropoulou.