Nicoleta Radu, general director of PAID Romania, stated that only 20% of Romanians have insured housing and highlighted the risks that unprotected Romanians face in the event of a disaster.
“In Romania we have mandatory home insurance, which is meant to cover the three impact risks – earthquake, landslides and flood. It is an accessible mechanism. The policy was RON 8 per month and despite all this it is difficult to explain why in Romania only 20 percent of the population has their homes insured. Practically, in Romania, four out of five homes do not have any kind of protection against natural disasters,” said Nicoleta Radu.
The Natural Disaster Insurance Pool ( PAID ) is an essential component of the Romanian catastrophe insurance program, a program managed by the Ministry of Internal Affairs. According to the law, PAID administers the compulsory home insurance system, which covers three basic risks specific to Romania – earthquake, floods and landslides.
Source: Economica.net
