about us | newsletter | contact | archive | members area
Michele Famis, French Ambassador to Romania
Romanian authorities have declared their intention to improve the absorption of EU funds»
  Features:      COUNTRY FOCUS   |   SECTOR ANALYSIS   |

Disaster relief set to go live this year

Romania is set to launch a compulsory home insurance for natural disasters this year which insiders hope will boost this market. But there are concerns over the business case and how to police the new scheme

March 2010 - From the Print Edition

« Back to article  
 


COMMENTS
There is 1 comment:

Brian Douglas: on 2010-07-25 06:49:50
Clearly Romania needs to develop a form of house insurance to cover natural and man made disasters like earthquakes and floods.
Within a policy must be a payout that will cover the rebuild of at least a dwelling with 2 rooms, plus kitchen and bathroom. The question is therefore if for instance a policy that offers 10.000 Euro payout is in Romania today enough to cover reconstruction of a family dwelling with 2 rooms, kitchen and bathroom?
There is along with this the problem of poverty which is in abundance in especially rural areas where most live on less than 30 euro per month and struggle to survive in real terms, thus here monthly insurance payments must be structured to meet the population at their level if there is to be an uptake in new insurance policyholders. The investment of policy payments collected also needs to be addressed to gain the best return by insurance companies. In all I agree that Romania needs house insurance but it needs to have far more development work undertaken so that the monthly costs are affordable and the payout in times of disaster are sufficient to cover the cost of a basic dwelling to modern standards.


 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

1 Comment  |  8362 View
Daily Info
Crosspoint assisted land transaction for 8,000 sqm residential project in Bucharest

The real estate consultancy company Crosspoint Real Estate has assisted the sale of a land plot by a private investor to an entrepreneurial group with full Romanian ownership....

Fondul Proprietatea concerned about draft proposing exemption of state-owned companies from corporate governance

Fondul Proprietatea expresses significant concerns about a new legal draft, currently discussed in the Commitees of the Chamber of Deputies, which proposes the exemption of 10...

President Iohannis to attend UN General Assembly in New York

Romanian president Klaus Iohannis will be in New York until Friday to attend the 73rd General Assembly of the United Nations.

Coldwer Banker Romania appoints Georgia Cailean as new CEO

Coldwell Banker Romania has appointed Georgia Cailean as new CEO. Georgia Cailean is a member of the Royal Institution of Chartered Surveyors, specializing in Corporate Real E...

Transelectrica accelerates investments to increase the energy system safety in Dobrogea

The National Power Grid Company Transelectrica marked the completion of the second stage of the project of rehabilitation of the Station Transformation 400/110/20 kV Tulcea We...

 
   
   

 

 

Advertising

 

 

 

More on Features
French investments at a glance: Interest still high

France, Romania's fourth largest foreign direct investor, has been around since the early 1990s, with flagship names the likes of Societe Generale or Groupe Renault taking ...

US calls for coherent, long-term strategy

As USA celebrates 4th of July, its eyes are wide open on the latest developments in Romania's ongoing struggle for the rule of law. Still, the country is one of the fastest...

Romanian energy industry: Challenges to Overcome

With a national strategy draft still to be approved, Romania faces many challenges, as the energy market is striving to find a way to attract major investments that are cri...

EnergyPal: The market must invest in innovation and develop worker qualifications

Romania's facility management sector in 2017 has seen changes in terms of increased market dynamic due to new office developments and also logistic sector growth, according...

Romanian office market ripening, in both leasing and acquisition

From the investment standpoint, lower rates of return and increased liquidity lure the investors, Andreea Paun, Managing Partner, Griffes said in an interview for The Diplo...

ISS: External FM market volume will grow as more Western European FM companies open subsidiaries in Romania

In the last few years as well as in 2017, the Romanian FM market has been in the process of maturing, focusing more and more on quality, efficiency and added value, demandi...

Digital Finance - driving force for the banking industry

Digitalization is radically transforming the banking industry, enabling new products, services and business models. This transformation will take time to complete, forcing ...