Even if Italy is a country with a very high exposure to catastrophes, the diffusion of CAT Bonds and similar instruments is absolutely not wide among the companies. The paper investigates the demand side of the lack of diffusion of CAT Bonds in Italy from both the legal and the economic point of view. To give empirical evidence to the theoretical results, a survey is conducted on a sample of 647 Italian companies and economic operators of different sizes and industries potentially highly exposed to Catastrophes.