The destruction in northern Italy following devastating floods has highlighted a concerning lack of insurance coverage against natural disasters in the country. While residents of Traversara village were spared from fatalities during the flood, their homes and livelihoods have been decimated. The tragedy underscores Italy's vulnerability to climate change and raises questions about preparedness for future extreme weather events.
The destruction in northern Italy has ignited debate in a country where just 6% of homes are insured against natural disaster
But, a few weeks on from the flooding of 19 September, when the northern Italian region of Emilia Romagna was struck by its third devastating storm in less than 18 months, the destruction of Traversara is clear. The hamlet, on the banks of the Lamone River about 40 minutes from the regional capital of Bologna, has been all but wiped out.about insurance coverage for losses from climate-related catastrophes, which until now has remained an unfamiliar concept for most Italians.
The government has proposed making it obligatory from January for businesses to be insured against natural disasters, a move that has proved particularly unpopular in areas most at risk. There were also hints at extending it to households. Anger is seething in the region, where people feel they have been left alone to deal with the consequences. Homeowners and businesses who incurred damage in last year’s floods each received €5,000 to cover the costs. An online platform called Sfinge was then set up to allow people to request further reimbursements, but many users gave up, saying the system was difficult to navigate and they were made to jump through hoops to claim even small amounts.
As for the obligatory insurance measure, there are fears it could cause businesses to flee while deterring future investment.
Italy Floods Disaster Insurance Climate Change Emilia Romagna
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