The new law on mandatory home insurance, which leaves out of thenatural disaster insurance system those owners who bought suchinsurance on their own, will not significantly affect thisprogramme, considering the number of optional policies is reallylow as it is, brokers and insurers feel.
"If someone has optional insurance there is no reason why theyshould get mandatory insurance on top of that," says BogdanAndriescu, chairman of the National Union of Insurance Brokers andConsultants of Romania (UNSICAR).
The new version of the law could see PAID (Disaster Insurance Pool)compete with the other insurers, which might come up with betterprices in a bid to win over clients.
Costi Stratnic, the sales manager of Omniasig, one of the companiesthat are not part of the PAID, the organisation that issues themandatory policies, in turn believes the new law means going backto normal. "We were affected after the launch of the mandatory homeinsurance system because the insured amount on this segment fell by20,000 euros and therefore the value of the average policy wentdown, too."
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