A survey conducted by the Portuguese Association of Insurers (APS) among its members recorded a total of 14,681 claims covered by insurance policies, representing a total damages amount (both paid and provisioned) of approximately 28 million euros.
Of the claims reported, 97.9% pertained to home insurance and insurance for commercial and industrial activities.
APS noted that it will update this information and anticipates “an upward revision, both in terms of the number of claims and the compensation to be paid.”
The passage of Storm Martinho, characterized by heavy rain, strong winds, and significant sea disturbance, resulted in thousands of incidents across mainland Portugal, predominantly involving fallen trees and structures, at the end of March. During this time, orange weather warnings, the second most severe level, were in effect.
