Only 20 percent of the more than 9.7 million homes in Romania are currently insured, as the Law on the mandatory insurance of residential property has never been practically applied, director general of the Natural Disaster Insurance Pool (PAID) Nicoleta Radu told a specialist event on Thursday."So, there are 7.6 million uninsured homes in Romania, practically four in five homes are not insured against natural disasters," Radu told the conference "Quo Vadis 2024 - Challenges in Romanian Financial Education!", now at its 6th edition.According to the PAID head, owners of multiple homes are quite rare, "despite the high number of large fortune holders.""The majority of Romanians are at a lower financial level. Let's not forget that there are still adobe houses in Romania, houses made of less resistant materials, and this financial protection solution was created exactly for this category, for those who do not necessarily have material resources in banks or other properties, and for those who, should an undesirable event occur, could be left under the open sky," argued the PAID director general."We know perfectly well that during the communist era, very few people had access to an individual home, this is why when this possibility opened, we started buying as much as possible. Probably, this idea of acquiescing only to the part that suits us, but not also to the inherent responsibilities is also part of the Romanian people's psychology," the PAID head emphasized.The event was organized by the Institute for Financial Studies Foundation and DC Media Group.
The third breast milk bank in Romania has opened at the Sibiu County Hospital, following a RON 13.5 million (about EUR 2.7 million) investment aimed at modernizing the hospital’s neonatology department. The modernization project, financed through the National Recovery and Resilience Plan, included the replacement of old equipment, a 20% increase in the number of […]
President Nicuşor Dan stated on Wednesday, July 30, in a press conference that the current system, which allows magistrates to retire under the age of 50 with a pension higher than their salary, is absurd. He also criticized the Superior Council of Magistracy, or CSM, for the current “disorderly” state of the Romanian justice system. […]
Forty Romanian firefighters and eight fire trucks left for Greece on Wednesday, July 30, to participate in firefighting missions, the General Inspectorate for Emergency Situations said. Between August 1 and September 15, Romania will take part in the Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG ECHO) program aiming to support the Greek […]
Integrated facility and property management services provider Nazca has opened its first office outside Italy, its domestic market, in Bucharest. Nazca expects revenues of over EUR 1 million next year in Romania, and in the next 3 years, the growth plan aims to reach EUR 10 million, with target sectors being office buildings, retail, industrial […]
The 19th edition of TIFF Sibiu, one of the local editions of the Transilvania International Film Festival (TIFF), the largest film event in the county, will present a program of international films and the latest productions by Romanian fillmakers, who will attend the event. The festival takes place between August 7 and August 10, with […]
Moldovan carrier Flyone will add a route between Bucharest and Munich starting in October. The flights to Munich will be operated on Mondays, Wednesdays, and Fridays. This adds to the flights it has connecting the Romanian capital to Tel Aviv, Brussels, and Verona. With these routes, the airline is responding to the constant demand from […]
