How does the first annual review of household insurance look like?
 The first "checkpoint" of the Romanian catastrophe insurance program - implemented in the summer of 2010 -, including the extent to which it boosted the voluntray household insurance market, is getting closer. ICAR 2011 - International CAtastrophic Risks Forum marks the review of the first year of mandatory insurance and will be held on October 10th, at Hotel Radisson BLU Bucharest.
At the end of June, nationwide, the number of insured households was 3,377,026, of which 2,793,628 through voluntary insurance and 583,398 through mandatory insurance, which means a total degree of insurance coverage of the Romanian housing fund of 40,3%.
All this evolution in 2011 occurred under the circumstances of the competitive relationship between mandatory policies, issued by PAID, and the voluntary ones, launched at the beginning of the year by insurers, the latter also covering other risks besides the ones included in the mandatory policy, at a similar price - around EUR 20.
According to the agenda of the event, the main themes that will be subjected to the debate of the companies involved in the system, the supervisory authority and public authorities are:
- PAID - The first year of mandatory insurance and boosting the voluntary market;
- Pros and Cons: voluntary insurance, at the price of mandatory insurance;
- Improvements as we go - new amendments for regulating legislative inconsistencies;
- Cooperation with local authorities and direct involvement of PAID in selling policies - the cross-cut to enhance rural insurance coverage.
Click here for details about ICAR 2011!
Click here to register at ICAR 2011!
Author: Andreea IONETE
on 03.10.2011
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