The Italian government announced on Monday a decree that will require, from January 1, all companies operating in the country to take out insurance covering the consequences of natural disasters, “increasingly frequent”, reports EFE.
The Minister of Enterprise and Made in Italy, Adolfo Urso, met with representatives of the country’s various productive and economic sectors to present this decree, which will be published “soon”, according to a ministerial statement.
The text specifies that it is “mandatory” for companies to take out insurance policies covering damage caused by natural disasters in “land, factories, installations, machinery, industrial facilities or businesses”.
“This is an important step to guarantee our productive system, in a context marked by increasingly frequent natural disasters. The introduction of this obligation will allow companies to better protect production and employment,” said Urso.
The decree will make Insurers must advance 30% of money for damages caused by natural disastersa provision already included in a draft law currently being examined in Parliament.
This, according to the ministry, “will provide greater security in the settlement of damages to insured companies, allowing them to immediately access the fundamental resources for a rapid recovery” of activity and production in the event of suffering, for example, a landslide or earthquake.
