Over 40,000 Romanians have sealed home insurance policies in thefirst two months after they became mandatory, with insurers hopingthat home owners will understand they will receive compensation fora potential disaster only if they get insured and are no longer atthe state's mercy, is the conclusion of the seminar "How will themandatory home insurance system work?," organised by ZiarulFinanciar and PAID (The Insurance Pool Against Disasters).
PAID is the insurance company that will issue mandatorypolicies, which has 13 insurers as shareholders, which distributethe policies. Considering that in Romania there are over 8.3million homes, insurers are currently striving hard to insure asmany homes as possible.
"The sales rate went up from 100-200 policies a day to1,200-1,500 policies a day. Our target is to reach 3,500-4,000policies a day," said Marius Bulugea, PAID president, adding thathe estimates 250,000 homes will be insured via mandatory policiesuntil January 15th next year (after which the uninsured will befined).
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