Each year, Romania faces floods
that affect large areas and thousands of dwellings. Solely
in this summer, several counties in southern and south-west
of the country were affected by severe floods which have jeopardized
the people’s lives and caused extensive damage to local communities.
Torrential rains flooded more than 2,300 dwellings at the
end of July; as a result over 1,800 people were evacuated
from the waterway. The people are aware now about the role
of insurance, given the fact that looses caused by the floods
are covered by mandatory household insurance (PAD) in the
limit of EUR 10,000 or EUR 20,000 euro (depending on the
type of construction), and facultative policies for the amounts
that exceed PAD coverage.
The damages caused by the floods (economic and insured ones)
and possible solutions in this regard will be discussed at
the 11th Edition of the International Catastrophic Risks
Forum - ICAR 2014, which will take place on October 8th,
2014, at the Parliament Palace in Bucharest.