The law regarding compulsory households insurance passed the Chamber of Deputies
 The law regarding compulsory households insurance was adopted on the
8th of October by the Chamber of Deputies.
Regarding the law, Angela TONCESCU, the President of the Insurance
Supervision Commission explained for XPRIMM publications that: "the
introduction of the compulsory households insurance, which has a strong
social impact, will bring along a growth for the property insurance
segment".
"This increase will take place because the minimum value to be insured offers a low degree of protection and facultative insurance will complete the covered risks and will insure the real value of the building", according to the President of CSA.
"First of all, the passing of this law means that Romania adopted the global system regarding insurance, but it also represents a step towards informing the population about the need for insurance coverage", Radu Mircea POPESCU, coordinator of the project and consultant for the Ministry of Interior and Administrative Reform, declared.
The law was adopted by the Government in August 2007 and it was passed on to the Parliament for debate in an emergency procedure.
After the vote by the Senate in November 2007, it was going to be analyzed by the Chamber of Deputies.
According to the law, the insurance will cover three basic risks: earthquake, floods and landslides. The insurance premium will be 10 EUR or 20 EUR, depending on the type of the structure.
Author: Andreea IONETE
on 09.10.2008
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