Three billion in damages. In one year, here is how much natural disasters cost Italian micro and small businesses. Floods, earthquakes and landslides have hit more than 278 thousand businesses. Mandatory insurance? Six out of ten businesses agree with the measure according to a survey by EMG Different for Facile.it.
Despite the billions in damages and increasingly frequent catastrophic events (just think of Romagna), it seems that awareness of the importance of insurance against natural risks is still limited among Italian entrepreneurs. The survey reveals that 92% of micro-enterprises and 45% of small businesses are not covered by any type of insurance policy against natural disasters. Only 6.2% of the sample has already taken out a specific policy, while a further 4% are partially covered. Why don’t businesses protect themselves in advance? The main reason, for over half of those interviewed, is a lack of awareness: many companies had simply never thought about the option of insurance coverage. A further 34% believe that the costs of policies are too high, a problem particularly felt in Southern Italy, where the percentage rises to 58%. The last reason, for 32% of businesses, is not considering their business as exposed to significant risks. A belief that is even stronger among companies in Central Italy, where the percentage reaches four out of ten.
Given these numbers, the Government is working on an implementing decree that will introduce the obligation to insure against catastrophic risks. But there is little information on this either. 80% of micro-enterprises and 58% of small businesses say they know nothing about it. Geographically, the situation is even more critical in the Central and Island regions, where over 90% of entrepreneurs are unaware of the legislation.
But for six out of ten companies, the insurance obligation is considered a welcome support. In fact, it reaches 71% among small companies and looking at geography, the greatest agreement is expressed in the North-East and the South. The insurance obligation therefore pleases companies. But will this mean full adhesion?Only 50% of the companies interviewed expressed their intention to comply with the new regulation and take out an insurance policy because they were required by law and feared sanctions in the event of non-compliance.
Data on the economic impact of natural disasters on Italian micro and small businesses highlight the urgent need for greater awareness and preparation. The introduction of mandatory insurance is a step, but businesses also say that a widespread information campaign and economic incentives are needed to make access to insurance easier and more convenient, especially for small businesses.
