According to Toncescu, the number of mandatory home insurance policies sold by PAID (the Pool of Insurance Against natural Disasters) continued to increase.
“The same thing might have occurred in the case of voluntary home insurance policies,” said the CSA head, who estimated about 45% of homes in Romania are insured.
In 2008, the share of insured homes stood at only 12%.
According to CSA data, the number of insured homes in Romania reached about 3.4 million end-June, of which some 2.8 million were insured through voluntary home insurance policies and 583,398 through mandatory home insurance policies.
Official data reveal there are 8.39 million homes in Romania.
On June 30, 64% of homes in capital Bucharest were insured. The share of insured homes in Constanta county (SE) reached 53% and in Timis county (W) 51.4%.
The lowest number of mandatory policies was sold in Vaslui county – (21% of homes insured), Gorj and Maramures (29.3% each) and Botosani (29.5%).
Voluntary home insurance premiums underwritten between January 1 and June 30 stood at 315.39 million lei (about EUR74.35 million), said CSA.
Homeowners are required to take out insurance against earthquakes, landslides and floods. The yearly premium for the policy sold by PAID is EUR10-20, depending on the type of building, and covers damages between EUR10,000 and EUR20,000.
Failure to get home insurance, either mandatory or voluntary, shall be fined by up to RON500 by the local authorities. The fines will be applicable as of August 5, according to CSA.
PAID is a joint stock insurance-reinsurance company that manages the risk fund meant for paying damages in case of natural disasters. Its 13 shareholders are: ABC Asigurari, Astra Asigurari, ARDAF, Carpatica Asig, Certasig, City Insurance, Credit Europe Asigurari, Euroins Romania, Generali, Grawe Romania, Groupama Romania, Platinum Asigurari and Uniqa Asigurari.