In 17.3 million euros are estimated for the compensations of the insurance companies for the bad weather “Elias”, according to a survey of the Association of Insurance Companies of Greece.

The association announced today that investigation completed for the first assessment of the compensations of the Greek insurance market for property and car insurance losses from the extreme weather phenomena (Elias weather: rainfall – floods) that prevailed in Greece (with particular intensity mainly in Thessaly and Evia) in the period 25 – 28 September 2023.

It is reminded that storm Elias was the second major storm that hit Greece within a few weeks after the bad weather Daniel.

According to the statements of the insurance companies participating in the relevant EAEE investigation, they were reported in total 1,277 damages and the amount of compensation for them is estimated at a total of 17.3 million euros.

From these, 895 losses were related to property insurance (estimated damages 16.5 million euros), 380 damage to car insurance (estimate 0.7 million euros) and 2 damage to boat insurances (estimate 7.5 thousand euros).

The EAEE survey is available on the association’s website.

The chairman of the Property, Transport and Reinsurance Committee, Errikos Moatsos, said: “The account of the natural disasters that hit Greece in 2023 was quite heavy. We had 3 incidents of rainfall – flooding and 2 forest fires of particular intensity, with 9,242 total losses reported to insurance companies. The provision of compensation for them approaches a total of 440 million euros. It proves once again that the catastrophic events due to the climate crisis are now many, frequent and more intense.”