The Italian government is set to extend the deadline for mandatory catastrophic insurance policies for businesses and self-employed individuals, originally due by March 31, 2025. This decision follows intense pressure from various business associations and political figures, highlighting the need for more time to adapt to new regulations.
Initially, the new law required all businesses, except for those in fishing and aquaculture, to secure insurance against natural disasters such as earthquakes and floods. Failure to comply would restrict access to public funding and benefits, significantly impacting the economic landscape. According to Sara Battisti, a regional councilor from the Democratic Party, the current deadline is too soon for many companies to adjust, as operational guidelines were only clarified at the end of February 2025.
As the deadline approaches, many businesses remain uncertain about their obligations. Reports indicate that around 95% of companies in the Marche region are currently uninsured, raising concerns about their ability to recover from potential disasters without state aid. Andrea Caranfa, the General Director of CNA Fermo, emphasized that without insurance, companies would bear the full financial burden of any damage from catastrophic events, which could jeopardize their operations.
In response to these challenges, the government, led by Prime Minister Giorgia Meloni, is considering a seven-month extension, pushing the deadline to October 31, 2025. This proposal has garnered support from various organizations, including Confartigianato and Unimpresa, which advocate for additional incentives to help small businesses manage the costs associated with the new insurance requirements.
Riccardo Zucconi, a deputy from the ruling Fratelli d’Italia party, has proposed an amendment to the "decreto bollette" to formalize this extension. The amendment aims to alleviate the immediate financial strain on businesses while addressing the ongoing energy crisis that many companies are facing.
However, not all parties are pleased with the proposed delay. Insurance companies have expressed concerns that postponing the implementation of mandatory coverage could lead to significant financial losses, potentially amounting to billions of euros. They argue that while some leniency may be warranted, the obligation to secure insurance should not be deferred indefinitely. The Italian National Association of Insurance Companies (ANIA) has published a guide detailing the requirements and implications of the new insurance law, aiming to clarify the situation for both businesses and insurers.
With the deadline looming, many businesses are scrambling to understand their obligations and the potential costs involved. Estimates suggest that insurance premiums could reach as high as 12,000 euros per year for some small and medium-sized enterprises, a figure that many find prohibitively expensive.
Giovanna Ferrara, president of Unimpresa, pointed out that the high cost of insurance could deter many businesses from complying, further complicating their financial stability. She urged the government to consider tax incentives and other forms of support to assist businesses in managing these new expenses.
As businesses navigate this uncertain landscape, the potential for increased costs for consumers also looms large. Citizens undertaking home renovations may find that contractors pass on the costs of insurance to them, resulting in higher overall project expenses. The government’s decision to extend the deadline could provide contractors additional time to shop for better insurance rates, ultimately benefiting consumers.
In summary, the Italian government's consideration to extend the deadline for mandatory catastrophic insurance reflects the complexities and pressures facing businesses as they adapt to new regulations. The outcome of this decision will not only impact the business community but also the broader economic environment, as companies seek to protect themselves against the financial repercussions of natural disasters.
As discussions continue, all eyes will be on the government to see how it balances the needs of businesses with the requirements of the insurance industry, while ensuring that the public is protected from the risks associated with catastrophic events.
