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Bucharest
September 30, 2020
BUSINESS

Disaster insurers hold technical reserves worth RON 30 M

The technical reserves of the Natural Disaster Insurance Pool (PAID) exceed RON 30 M, of which damage insurance, approved and unapproved reach nearly RON 400,000, with the latter covering the mandatory home insurance, according to a press release sent to Nine O’clock. The PAID release follows statements Monday by Cristian Constantinescu, a former Democrat Liberal Party (PDL) candidate for Insurance Oversight Commission (CSA) chairman, who told the budget-finance joint commissions of Parliament that the company issuing mandatory home insurance is technically bankrupt. Since its founding on July 15, 2010 the Pool has approved 73 damage files, of which 31 have been paid compensations to, while the others are underway. Paid damages come to RON 260,000. The average PAID compensation is of RON 8,387. On August 1 this year, the Pool paid the first total damage compensation, worth EUR 20,000.

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