Europe's insured risk gap widens as wildfires outpace coverage
Europe’s wildfires and heatwaves are driving recovery costs higher than insurance coverage, creating a growing “protection gap” as governments bear cooling, healthcare, and infrastructure costs. Leading insurers like Zurich and Munich Re warn that Europe’s wealth remains underinsured and more systemic risk mitigation and government-backed resilience are needed, with about €3.1 billion in costs through July across five exposed eurozone countries.