Only a fifth of Romanians insure their homes for natural disasters

Only a fifth of all Romanians have insured their homes against natural disasters such as earthquakes, floods, and landslides, according to the Pool of Insurance Against Natural Disasters (PAID). Romania has about 8.9 million homes. Less than 20% of them are insured via the mandatory insurance policy PAD. The number of PAD policies is increasing, but is still at a low level. According to data published at the end of August, the number of active policies rose by 14.5% to 1.73 million, compared to 1.5 million in August 2015. In August, PAID paid compensation of over EUR 51,000. Homeowners in Romania are covered by the PAID national system for home insurance. editor@romania-insider.com