European Parliament: Austria, Italy, Portugal, Spain Receive Euro 279m After Natural Disasters in 2019 - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
May 29, 2020 Newswires
Share
Share
Post
Email

European Parliament: Austria, Italy, Portugal, Spain Receive Euro 279m After Natural Disasters in 2019

Targeted News Service (Press Releases)

BRUSSELS, Belgium, May 29 -- The European Parliament issued the following news release:

On Thursday, Budgets Committee Members approved Euros279 million in EU aid following extreme weather events in Austria, Italy, Portugal and Spain in 2019.

The draft report by rapporteur Jose Manuel Fernandes, (EPP, PT), who recommended that the assistance be approved, was adopted by 38 votes in favour, none against and without abstentions.

The Euros279 million from the European Union Solidarity Fund (EUSF) would be allocated as follows:

* The Azores (Portugal) were hit by hurricane Lorenzo in October 2019 (Euros8.2 million);

* A rare meteorological phenomenon described as "isolated high altitude depression" affected four regions in the south-east of Spain in September 2019, leading to flooding (Euros56.7 million);

* Most of the Italian territory was affected, between October and November 2019, by a series of connected extreme weather events, leading to severe damage and culminating in the disastrous flooding of Venice (Euros211.7 million);

* In November 2019, the south-west of Austria suffered from severe flooding, particularly in Carinthia and Eastern Tyrol, both Alpine areas bordering on Italy (Euros2.3 million).

More information here (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2020:200:FIN) (Commission proposal) and in the EP draft report (https://www.europarl.europa.eu/doceo/document/BUDG-PR-650658_EN.html?redirect).

Quote

Rapporteur Jose Manuel Fernandes, (EPP, PT): "Following a series of natural disasters last year, the European Parliament is committed to helping Portugal, Spain, Italy and Austria. With urgent financial aid amounting to Euros279 million, our aim is to rebuild infrastructure and boost the economy of the regions most affected, especially outermost regions. This is a small but important step towards the recovery and revival of local and national economies. I welcome Austria's request to the European Commission for assistance in mobilising the Fund. It is proof that Austrians - like all Europeans - benefit from European solidarity."

Next steps

The European Parliament as a whole still needs to approve the proposal for EU Solidarity Fund assistance to Portugal, Spain, Italy and Austria in June. Once plenary and Council have endorsed it, the financial aid can be paid out.

Background

The European Union Solidarity Fund (EUSF) was created after the severe floods in Central Europe in the summer of 2002. Since then, it intervened following 88 disasters covering a range of different catastrophic events including floods, forest fires, earthquakes, storms and drought. 24 different European countries have been supported so far with a total amount of more than Euros5.5 billion. In addition to intervening following natural disasters, since 1 April 2020, the scope of the Fund was broadened as part of the Coronavirus Response Investment Initiative, to include also support in case of public health emergencies, such as the current COVID-19 outbreak.

Member states hit by a natural disaster can request different kinds of short- and long-term EU support. The EU Civil Protection Mechanism can be activated during a crisis by a member state. To strengthen short-term EU crisis response, the EU adopted a new system called RescEU in March 2019. RescEU establishes a new European reserve of capacities that includes firefighting planes and helicopters.

* EU Solidarity Fund aid to help repair damage after floods and storms

* Most of the aid, Euros211.7 million, goes to Italy

* First EU Solidarity Fund decision in 2020

Older

Pandemic Presents Challenges To Finances, Loans, Insurance Coverage

Newer

Will Gulf States Learn From Their Success In Handling The Pandemic? – Analysis

Advisor News

  • House panel votes to raise certain taxes, transfer money to offset Medicaid shortfall
  • Iowa House backs temporary tax hike to fill Medicaid gap
  • Iowa Medicaid temporary tax plan draws sharp public opposition
  • Charitable giving planning can strengthen advisor/client relationships
  • New $6K deduction could provide tax planning window for retirees
More Advisor News

Annuity News

  • We can help find a loved one’s life insurance policy
  • 2025: A record-breaking year for annuity sales via banks and BDs
  • Lincoln Financial launches two new FIAs
  • Great-West Life & Annuity Insurance Company trademark request filed
  • The forces shaping life and annuities in 2026
More Annuity News

Health/Employee Benefits News

  • Massachusetts probed over abortion coverage mandate
  • CT leaders debate how to fix health care: Blunt federal cuts, up reimbursement or kill private health care?
  • When health insurance costs $2,500 per month, families make tough choices
  • In U.S. Health Insurance Market, Consolidation Of Insurers Is Increasing Premiums
  • Health insurance jargon can be frustrating and confusing – here's how to navigate it
More Health/Employee Benefits News

Life Insurance News

  • Murray Giles Hulse
  • New individual life premium hits record-setting $17.5B in 2025
  • Maryland orders Cigna to halt underpaying doctors or give cause
  • Insurers optimistic about their investments in 2026
  • AM Best Affirms Credit Ratings of PVI Insurance Corporation
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

Your Cap. Your Term. Locked.
Oceanview CapLock™. One locked cap. No annual re-declarations. Clear expectations from day one.

Ready to make your client presentations more engaging?
EnsightTM marketing stories, available with select Allianz Life Insurance Company of North America FIAs.

Unlock the Future of Index-Linked Solutions
Join industry leaders shaping next-gen index strategies, distribution, and innovation.

Press Releases

  • LifeSecure Insurance Company Announces Retirement of Brian Vestergaard, Additions to Executive Leadership
  • RFP #T02226
  • YourMedPlan Appoints Kevin Mercier as Executive Vice President of Business Development
  • ICMG Golf Event Raises $43,000 for Charity During Annual Industry Gathering
  • RFP #T25521
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet