Insurance Payouts Lag Behind Claims In Portugal

Of an estimated 185,000 insurance claims reported, only 300,000 euros have been effectively paid out. Total estimated damages from these claims amount to 1 billion euros. The source noted that the state should intervene in critical situations while technical evaluations and reports are being produced. Public funds may be used to anticipate payments and be reimbursed later. There are approximately 185,000 reported claims currently pending resolution. Of 1.5 billion euros in available funds, only approximately 740 million euros have been approved. Banks are not responding with expected speed regarding state guarantees that can cover up to 80% of granted values. The source noted that while the loan moratorium is, addressing the delay in fund disbursement to companies is critical. State guarantees for these loans can reach 80% of the granted value, but banks are not responding with expected speed. Much of the approved funding has not yet reached companies. Approximately 185,000 claims have been reported, but only half of those claimants have received compensation. Internet access is described as a fundamental tool for businesses to resume economic activity.