BUSINESS

PAID: 5.74 pc of local homes are insured

The Insurance Pool against Natural Disasters – PAID – issued between July 15, 2010 and March 31, 2011 over 481,000 mandatory insurance policies, according to a company release. “The PAID portfolio in late March showed insurance policies have been underwritten for 5.74 per cent of Romania homes, when compared to the overall policy pool for the nearly 8.4 M homes,” said Marius Bulugea, PAID general manager, said.


The PAID underwriting rate registered an uptrend in March of this year, to an average 1,000 policies/day, from under 400/day during January-February, down from the year-on-year figure of over 10,000 policies/day
During 2005-2010, floods produced total damages in excess of EUR 3 bln (homes, bridges, roads). Nearly 62,000 homes sustained damages, of which 15,600 were totally wrecked. Over the past five years, government approved the release from the state reserves of humanitarian relief of over EUR 233 M.

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