First mandatory house insurance policies to be issued in July
Astra, Platinum România şi Groupama Asigurări. ABC Asigurări, Ardaf, Carpatica Asig, Certasig, City Insurance, Credit Europe Asigurări, Euroins have a 15 percent participation each in PAID, while Generali and Grawe, a 5.5 percent participation each.
PAID has also started talks with re-insurance brokers Willis, AON, Guy Carpenter, Stellar Re and RFIB.
The home mandatory insurance law was enacted in November 2008. It states home owners need to buy insurances, with prices varying between EUR 10 and EUR 20, depending on the type of house. The insured value cannot exceed EUR 20,000, with a minimum value of EUR 10,000. The sanction for not insuring one's house stays between RON 100 and RON 500. Home owners could also buy insurances to cover the real value of their house. There are over 8 million housing units in Romania, according to statistics.