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Bank of Spain Estimates Floods Cost 0.2% of GDP in 4th Quarter

Nov 20 2024 // Last month’s catastrophic floods in eastern Spain are likely to have a negative impact of 0.2 percentage points on the country’s gross domestic product in the fourth quarter, the Bank of Spain said on...

Spain’s Record-Breaking Floods Push Insured Losses Above €4 Billion ($4.2 Billion)

Nov 18 2024 // Total insured losses from recent floods in Spain are expected to exceed €4 billion (US$4.2 billion), according to credit rating agency Morningstar DBRS.This insured price tag includes losses absorbed by the Consorcio de...

Spain’s Devastating Floods Will Cost Insurers Over $3.8 Billion

Nov 8 2024 // The floods that devastated the Spanish region of Valencia at the end of last month are expected to trigger total insurance losses in excess of €3.5 billion ($3.8 billion), Moody’s said citing official...

Spain’s Hurricane Katrina Moment Saw Officials Ignoring Warnings

Nov 8 2024 // As a deadly storm bore down on Valencia on Oct. 29, the regional president was attending a ceremony to recognize his work on sustainable tourism.Three hours earlier, Spain’s national climate agency had issued a red...

Spain Risks €10.6 Billion Flood Damage Bill, PM Sanchez Says

Nov 6 2024 // Spanish Prime Minister Pedro Sanchez announced the first financial package for victims of the storms that killed more than 200 people in the country’s eastern region of Valencia.Spain will earmark as much as €10.6...

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