Record fire damage, over 45 thousand hectares burned - Who will cover it? In 2025, only 31 thousand insurance contracts. The main burden, the state
With around 90 fires and over 45,000 hectares of burned area since the beginning of the year, the fire situation in Albania has spiraled out of control.
According to previous statements by the Ministry of Defense, summer seasons had an average of 6 fires per week until 2024, while this year we have had 13 fires per week. By the end of July, 12 homes, 3 stables, 1 religious building and a power substation were affected. But the question arises, who will cover these damages caused by the fire?
If we refer to the insurance that citizens have taken out for their property in case of damage from fire or natural forces, the number of those who pay for such insurance continues to be very low.
The latest data from the Financial Supervisory Authority shows that in the first half of this year, gross written premiums from insurance against fire, natural forces and other property damage decreased by 2.4%. In total, insurance companies have collected almost 1.7 billion lek from property insurance policies. However, the number of insurance contracts for insurance against fire and other property damage has reached over 31 thousand, about 9.3% more than in the period January-June last year.
If we make a comparison since 2021, the number of people paying to insure their property has increased, but at a slow pace. In 2021, premiums collected by insurance companies from this type of product were only 2 billion lek, while in 2024 they reached 2.6 billion. On the other hand, the number of contracts from 2021 to 2024 has increased by 10.8%.
This shows that there has been an increase in awareness, but it remains insufficient. The greatest burden for covering the damages will remain with the state. The government is working on drafting a support package for those farmers whose agricultural lands have been burned by the fires of recent months. Only after the assessment of the damages by each municipality will compensation be made.
Penalties for counterfeit goods in markets are coming - Law enters into force on August 16, more protection for businesses and consumers
The law, which aims to provide more protection to foreign and Albanian businesses that have registered trademarks that are being misused, comes into force on......
What are the scams that can empty your bank accounts? - Sadiku: Banks never request information through SMS messages or emails
Have you received emails or phone messages from numbers that pretend to be from your bank, with links asking for your banking details? If so, this was an......
Which is the most "hardworking" region in the country? Kukës and Gjirokastra top the list. They are the most active in the economy
When it comes to employment in Albania, data shows that not all regions are moving at the same pace. In 2024, the employment and unemployment rates offer a......
More oil on the market in 2025 - IEA raises forecast after OPEC+ decision to increase production
The International Energy Agency (IEA) said it had raised its forecast for oil supply this year, following the decision by the OPEC+ producer group to......
The Ministry of Defense orders an urgent evacuation of residents in Nartë, Skënderbegës and Delvinë!
The Ministry of Defense issued an emergency evacuation order today for residents in Nartë, Skënderbegës (Gramsh) and Delvinë. "Due to the rapid spread of......
"Fire situation, towards stabilization" - Ministry of Defense: Over 10 thousand emergency forces, on the ground
During the last 24 hours, 64 fires have been identified, of which 24 are still active. According to the Ministry of Defense, over 10,000 emergency forces,......
The dollar returns to decline while the franc recovers points!
The US dollar has recorded another decline in value this morning as it was bought today for 82.2 lek and sold for 83.6 lek according to the local exchange......
Rama: Gratitude for firefighters, the harshest punishment for those who intentionally start fires!
Prime Minister Edi Rama reacted today regarding the fire situation in the country, thanking all forces engaged in extinguishing them, while emphasizing that......
