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.
US company Goodyear, one of the world's largest tire manufacturers, has appointed Romanian Octavian Velcan as the head of its Turkish subsidiary, one of Turkey's largest exporters. The Turkish branch of Goodyear operates deliveries nearing USD 2 billion, according to data analyzed by Profit.ro. ...
A study conducted by the Bucharest Community Foundation, through the Bucurestiul Pregatit/Bucharest Ready program, shows that 82% of residents believe that the Romanian capital is not ready for a major earthquake, making it a prime concern among city residents. Meanwhile, 59% of Bucharest residents consider earthquakes a major threat, ranking them as the second biggest […]
Endava (NYSE: DAVA), a global provider of digital transformation, has been selected as a partner in the Open Cloud for Research and Education (OCRE) 2024 framework. This EU-compliant procurement framework, administered by GÉANT, the collaboration of European National Research and Education Networks (NRENs), enables European educational institutions to access innovative cloud services, fostering digital transformation […]
Romanian justice minister Radu Marinescu said during an interview that Andrew and Tristan Tate, who left Romania after their travel ban was lifted, have every interest in returning to comply with judicial procedures. The two are investigated for human trafficking and other offenses, including rape. The minister argued that the brothers have always claimed that […]
A new investigation from independent journalists at Recorder shows that far-right politician Călin Georgescu, who routinely accuses American-Hungarian billionaire George Soros of meddling in Romanian politics, partnered with the...
Workspace Studio, a leader in ergonomic design solutions and employee-centered design, announces solid results for 2024, with a turnover of €27 million, up 20% from the previous year. This success was driven by large-scale projects for top companies as well as numerous collaborations with medium and small firms, all benefiting from the same commitment to […]
