Euro Weekly News - Costa Blanca South 14 - 20 November 2019 Issue 1793

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GUIDE ON PAGES 48 - 60 ISSUE NO. 1793

14 -20 November 2019

COSTA BLANCA SOUTH

YOUR PAPER, YOUR VOICE, YOUR OPINION

CATASTROPHIC LOSSES THE bill to insurance companies of the September ‘Gota Fria’ storm and floods is estimated at €455 million in Alicante and Murcia alone. This is the figure the Consortium of Insurance Compensation (CCS) has put on the disaster, with 65,000 claims having been made for damage caused by the extreme weather. It makes it the second most expensive weather-related event for the insurance sector in Spain’s recent history, after the 1983 floods in the Basque Country. Worldwide, insured losses from catastrophes between 2017 and 2018 were $219 billion. “It was the worst two-year period in history for the insurance sector,” said Santiago Aréchaga, CEO of Swiss Re in Spain and Portugal. The High Commissioner for the Spanish Government’s Agenda 2030 for Sustainable Development, Cristina Gallach, pointed out that Spanish companies “should take advantage” of the Climate Summit

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€455 million insurance bill for Costa Blanca storm the most expensive since Barcelona floods. being held in Madrid “to relaunch their environmental strategies.” “The support of civil society, led by universities, nongovernmental organisations and social organisations, among others, will allow us to enter the decade of sustainability and inclusion on January 1,” said Gallach, highlighting the importance of research and science, as well as the “generalised consensus in management, for the fulfilment of the sustainable development objectives set by the European Union.”

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