About six in ten houses in Romania are covered by mandatory and voluntary insurance policies covering three primary natural disaster risks: earthquakes, floods and landslides.
Last year, 4.4 million such insurance contracts were in place for more than 574,000 homes according to the Insurance Supervisory Commission (CSA). However, these numbers have dropped in recent months to around 505,000, according to the Pool of Insurance against Natural Disasters (PAID), the company issuing the policies required for housing. The remaining 3.5 million homeowners are at risk of fines ranging between RON 100 and RON 500.
