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ROMANIA: Only one in five homes are insured

Only one in five Romanian homes is insured, 43 years after the largest earthquake that hitted the country in 1977, although the earthquake is the second risk that Romanians are worried about when it comes to their homes (57%), after the fire (65% ), according to the study prepared by IRES for UNSAR - The National Association of Insurance and Reinsurance Companies in Romania, informed 1asig.ro.

At the same time, according to the same study, 7 out of 10 Romanians declare that they are interested in home insurance.

"UNSAR carries out sociological research and online information campaigns on the importance of home insurance on annual basis. For each of us, housing and property insurance should be a priority, and the increasing degree of protection existing in our country must be a priority for the whole society ", declared Adrian MARIN, President of UNSAR.

According to the latest figures published by the Financial Supervisory Authority, at the end of September 2019 were in force about 1.5 million voluntary home insurance and 1.7 million mandatory PAD insurance. In Romania, there are almost 9 million homes.

Romania continues to be very vulnerable to natural disasters, which could create damages of billions of euros which can destabilize the country's economy. More than that, last year, the World Bank pointed out that Romania occupies a leading position in the EU in respect of the risk of disaster, Bucharest being the city with the highest seismic risk among all EU capitals.

Author: Andrei Victor on 11.03.2020

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