Loures, Portugal, Sept. 2, 2024 (Lusa) - The Portuguese Insurance Association said on Monday that the estimated cost of compensation paid and provisioned to settle the damage to vehicles affected by the August fire in Prior Velho, Loures, is more than €2.85 million.

More than 200 vehicles were destroyed on 16 August in a fire in the Prior Velho industrial area, in a car park next to Lisbon airport owned by a passenger vehicle collection company.

In a statement, the Portuguese Insurance Association (APS) said that the number of claims received by insurance companies regarding vehicles with fire cover has exceeded 120 to date.

The figure of more than €2.85 million "is expected to grow substantially as more claims are received and once all the damage covered by insurance has been ascertained".

The APS also said several insurance companies have set up teams dedicated to monitoring this occurrence to ensure the rapid resolution of the associated cases.

The association ‘does not have any information on the causes or liability of this accident nor on the existence of any insurance that may cover these liabilities or other damage to property’.

APS says that it will release updated information as soon as there is new data to justify it.

Last week, Generali Tranquilidade said in a statement that it had set up a team dedicated to resolving this event as part of a specific action plan.

‘This dedicated action plan has already enabled Generali Tranquilidade to settle 75% of the claims reported (37) in just seven working days, and compensation has already been paid,’ said the insurance operator.

The fire, which caused no personal injury and did not spread to nearby warehouses, broke out at around 6 p.m. on 16 August, and the Judicial Police are investigating its causes.

DD/ADB // ADB.

Lusa