Only 8% Of Romanian Homes Insured

"The percentage is low compared to other EU states. However, the population is beginning to realize the importance of a specific policy and they agree with the introduction of the home insurance obligation, as indicated by the data of an Insomar study compiled at the request of CSA in Spring 2007," said Toncescu.

According to the Insomar poll results, when asked "Do you agree with the introduction of obligatory home insurance against natural disasters?," 60.2% of respondents said yes, while 30.1% did not agree. Some 9.7% of respondents refrained from answering.

Toncescu said that the enactment of the draft law on obligatory home insurance was imperative since Romania is one of the EU states significantly exposed to natural disasters, especially floods and earthquakes.

"According to a study compiled by the Romanian Ministry of Environment, the value of average yearly losses, calculated for residential buildings, resulting from floods, reach some EUR20 million. For earthquakes, total exposure reaches EUR105 billion," said Toncescu.