The Greek insurance market’s initial estimate of compensation for property and motor insurance losses caused by wildfires that hit mainly Western Attica (Porto Germeno, Psatha and elsewhere) and other parts of Greece (Rethymno, Boeotia, Phocis and elsewhere) in July and August 2026 puts the total at 164 claims, with compensation estimated at €6.41m.
Of these, 161 claims related to property insurance, with compensation estimated at €6.38m, while three related to motor insurance, with compensation estimated at €26,000. The HAIC survey included 25 insurance companies, which are estimated to account for 98.5% of the property insurance business.
The HAIC survey is available here, as is the corresponding infographic. The HAIC’s interactive Nat Cat Monitor also provides information on the event and on insured losses from catastrophic events from 2015 to August 2026.
The need for insurance cover
Errikos Moatsos, chairman of the Property, Transport & Reinsurance Committee, said: “This summer’s wildfires, both in Greece and in other European countries, confirm that natural disasters pose a persistent and growing challenge. In Greece, following the extreme rainfall in January, the summer fires served as another reminder of our exposure to different natural hazards and the significant economic consequences they can cause.
The HAIC systematically records insured losses from natural disasters, providing data on their economic impact. However, we must not forget that total economic losses are much higher, as a substantial insurance protection gap remains in our country. As a result, the cost of repairing the damage falls largely on those affected, who often lack the necessary financial resources, as well as on the state budget. The HAIC is actively involved in public debate on addressing this gap, with the aim of strengthening insurance protection and the resilience of Greek society to natural disasters.”