Compulsory disaster insurance: new rules for business since June 2025

Joint ministerial decision established details regarding compulsory insurance of enterprises from natural disasters acting with June 1, 2025.

The decision was signed by the ministries national economy and finance, development, climate crisis and civil protectionand also digital control.

According to Article 5 of Law No. 5116/2024, adopted July 1, 2024the compulsory insurance of facilities and equipment of enterprises is provided, at least 70% of the total asset value From risks Forest fires, floods And earthquakes.

We remind you that enterprises that do not observe new regulation will collide a fine of 10,000 euroswhich is doubled in case of repeated violation. The solution provides for the following:

A) Enterprises whose annual gross income exceeds the scope of 500,000 euros.

B) From compulsory insurance are released:

• Statestate sector and Εταιρεία ακινήτων δημοσίου α.ε. (Company of state property SA).
• Illegal buildings that are excluded from state assistance.
• Vessels, trains, aircraft and other vehicles that fall under the determination of equipment.
• All types of air, underground and underwater infrastructures, including mines.
• Agricultural crops, crop production, fish farming and livestock capital.
• New enterprises that have not yet published financial reporting.

IN) In addition, there is a procedure for liberation for enterprises that cannot be insured against some risks, or in relation to part or all of their assets.

After receiving two refusals for insurance requests from different insurance companies, such enterprises are exempted from the obligation of insurance for Two years. If after this period they again receive two rejection of two insurance companies, their exemption from the obligation of insurance from natural disasters becomes constant.

G) On enterprises that do not comply with the requirements of a joint ministerial decision, Δι.μ.ε.α. (Διυπηρεσιακή μονάδα ελέγχου αγοράς, “Interdepartmental unit of market control”) imposes an administrative fine in the amount 10,000 euros. The violator is obliged to 30 days From the moment of notification of the fine to insure, otherwise the fine doubles.

PS I wonder how many zeros were in the amount of remuneration from insurance companies for the adoption of this law?

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