New extension for the obligation to insure against natural disaster risks
On March 28, 2025, the Council of Ministers approved a Decree-Law extending the deadline for businesses to subscribe to catastrophic risk insurance policies.
This requirement, introduced by the 2024 Budget Law, was initially set to take effect on March 31, 2025. However, due to numerous requests for postponement and interpretative uncertainties, the government decided to extend the deadlines, differentiating them based on company size.
New deadlines for compliance
- Large enterprises: The deadline remains March 31, 2025, but a 90-day grace period is allowed until June 29, 2025, during which non-compliance will not affect access to public grants and incentives.
- Medium enterprises: The new deadline is October 1, 2025.
- Small and micro enterprises: They have until January 1, 2026.
Who is subject to the obligation
The obligation applies to all businesses with a registered office or permanent establishment in Italy, duly registered in the Business Register. Each company should verify its size classification (micro, small, medium, or large) according to EU parameters.
Scope of insurance coverage
The policy must cover damages to tangible fixed assets caused by natural disasters or catastrophic events occurring on Italian territory. Generally, this includes assets recorded in the balance sheet under Fixed Assets – Tangible Assets (Article 2424 of the Civil Code).
Interpretative uncertainties remain on specific cases
- Professional partnerships (STP): It is unclear whether they are included in the obligation.
- Leased properties: The obligation seems to fall on the tenant, although the owner benefits from the coverage.
- Bed & Breakfasts: If operated as a business and registered in the Business Register, the obligation applies to the part of the property used for the business.
- Buildings under construction: According to ANIA (National Association of Insurance Companies), these are excluded since they do not fall under the assets covered by the law.
For more information and assistance regarding catastrophic risk insurance policies, please contact our office.