Flood Damages In Romania Exceeded EUR3B In 2005-2010

According to Bulugea, about 62,000 homes were damaged by overflowing waters in the above mentioned interval, of which 15,600 were completely destroyed.

The flood relief granted by the Romanian Government exceeded EUR233 million over the past five years, highlighted Bulugea.

The insurance pool has so far paid over RON22,000 as flood and landslide damage claims, and nine other damage claim files are about to be completed, said the general manager, adding that overall damage claims rise to about RON110,000.

Flood damages in 2009 stood at 156.4 million lei (EUR1=RON4.2065) and at RON2.79 billion in 2008, according to data released by insurer regulator CSA in August 2010.

PAID is a joint stock insurance-reinsurance company that manages the risk fund meant for paying damages in case of natural disasters. The insurance pool also issued the first mandatory home insurance policies in July 2010.

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