It is mandatory for homeowners in Romania to take out insurance against earthquakes, landslides and floods, after the home insurance law was amended in 2013.
PAID has managed to increase its portfolio after concluding collaboration protocols with Allianz-Tiriac, Omniasig, Asirom, and another 17 insurers, which allow them to distribute mandatory home insurance policies.
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).
There are some 8.5 million homes in Romania.