Business insurance against natural disasters
(Article 25)
In force from 1 June 2025:
- Businesses with annual gross revenue in the previous tax year above €500,000 must be insured against: • forest fire • flood and earthquake.
- The insurance must cover, as a minimum, the risk of material damage caused: • to the business’s own buildings and other business assets, such as: • equipment, • raw materials, • goods, • trucks and commercial vehicles, • means of production and stored products • and for 70% of the value of all the above assets
- Fines for not insuring (Article 25) An administrative fine of ten thousand (€10,000) is imposed on the business. Within thirty (30) days of being notified of the fine, the business must comply with the obligation; otherwise the fine is doubled.
- Businesses that are required to insure are excluded from any state disaster-relief grant for material damage to the assets of par. 2 caused by the risks of par. 1, including housing assistance.