As provided for by Article 13 of Law Decree 202/2024 (the so-called Decreto Milleproroghe), it was postponed to the next 31 March 2025 the obligation for companies to take out insurance against natural disasters, as provided for in the Budget Law 2024 (Article 1, paragraphs 101 to 111 of Law 213/2023).
The obligation concerns all enterprises with a registered office in Italy (excluding agricultural companies) and companies with a registered office abroad with a permanent establishment in Italy, required to be registered in the Commercial Register pursuant to Article 2188 of the Civil Code. Such undertakings are obliged to enter into by 31 March 2025 an insurance policy covering damage directly caused by natural disasters and catastrophic events, occurring within the national territory (earthquakes, floods, landslides, inundations and floods), to land, buildings, plant, machinery and industrial and commercial equipment used for any reason whatsoever in the exercise of the business activity, with the exclusion of those already covered by similar insurance cover, even if taken out by parties other than the entrepreneur using the assets.
In the event of non-compliance with the insurance obligation, the sanction will take the form of loss of access to the contributions, subsidies or facilities of a financial nature from public resources, including those provided in connection with calamitous and catastrophic events.
The provision is aimed at providing economic relief to companies based in Italy in the event of catastrophic events, which may generate damage to the population, the companies themselves and the infrastructure, with the objective of placing the risk of such events and the related costs not only at the charge of the State, but also of private entities.
While remaining at your disposal for any doubts or requests for clarification, we would like to take this opportunity to extend our best regards to all.