So far, mandatory home insurance policies were only issued by members of the insurance pool.
The Financial Supervision Authority said in a press release it has adopted amended norms regarding PAID, allowing other insurers to sell mandatory home insurance policies under collaboration protocols signed with PAID.
PAID was set up in 2009 and consists of Astra, Groupama, and Gothaer Asigurari (with 15% each), Generali Romania (11%), ABC Asigurari, Carpatica Asig, Certasig, City Insurance, Credit Europe Asigurari, Euroins, UNIQA Asigurari, and Grawe Romania (with 5.5% each).
PAID issued the first mandatory home insurance policies in July 2010. Policies cost EUR10-20, depending on the type of building and cover damages of EUR10,000-20,000.
Romania has about 8.5 million homes. By the end of July 2013, PAID had issued 316,953 mandatory home insurance policies, from 330,093 by the end of 2012.