Property insurance, mandatory starting with the 1st of July 2009
 "We wish to inform the population about the fact that property insurance will be mandatory starting with the 1st of July 2009, according to the present legislation", Radu Mircea POPESCU, Councilor in the Ministry of Interior and Administrative Reform - MIRA -, has stated for XPRIMM Newsletters.
The MIRA official specifies that there will be periodical informing, transmitted in due time, concerning the insurance companies authorized to make this kind of policies. This way, we try to avoid any abuses or confusions due to implementing this system nationally.
"For the moment, we are working on the secondary legislation elaboration, referring to the law application directions", Radu Mircea POPESCU has added.
According to the law, mandatory insurance will cover three basic risks specific to Romania: earthquake, inundation and landslide. The insurance premium will be of EUR 10 or EUR 20, depending on the type of structure.
Author: Alexandru CIUNCAN
on 10.11.2008
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