A new report by the Hellenic Association of Insurance Companies (EAEE) reveals that five days of extreme weather in Greece between March 29 and April 2, 2025, resulted in €7.2 million in insured damages. Torrential rains and flash floods hit several parts of the country, including Paros, Crete, Syros and Mykonos, causing 476 recorded insurance claims—mostly related to property and vehicle damage.

According to the report, property insurance claims accounted for the lion’s share, totaling €6.9 million from 341 reported cases. Another 134 claims were made for damaged vehicles, amounting to €232,000. One marine insurance claim added €40,000 to the total. The storm system caused particularly heavy flooding in the Cyclades islands, with Mykonos and Paros hardest hit.

Mykonos alone accounted for over 60% of all property damage claims, totaling more than €5 million in payouts. Damaged properties included homes, hotels, industrial and commercial facilities, and infrastructure projects. The average declared damage per property was €20,326, with industrial facilities showing the highest average loss.

Insurance claims data suggest that Mykonos suffered the most substantial impact both in volume and insured value, with insured assets totaling nearly €450 million. The destruction rate—measured as compensation as a share of insured value—was highest for infrastructure and photovoltaic installations, underscoring their vulnerability to severe weather.

The EAEE’s findings align with meteorological data from the National Observatory of Athens, which recorded record-breaking rainfall during the period. For example, Chania, Crete, saw 123 mm of rain in one day, while Mykonos recorded 65 mm in just two hours.

Commenting on the results, EAEE’s Property Insurance Committee Chair Errikos Moatsos said, “Climate change is now a permanent reality. Repeated extreme weather events emphasize the urgent need to improve the resilience of both infrastructure and society.”

The EAEE’s “Nat Cat Monitor” continues to track insured damages from natural catastrophes. This report not only quantifies economic losses but also offers critical insights for public planning and private risk management in an increasingly volatile climate.

The figures are based on claims data submitted by insurance companies and reflect the rising financial impact of extreme weather events across the country.