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.
Estonian cinema will take center stage at the 24th edition of the Transilvania International Film Festival (TIFF) in the Focus Estonia program, presenting a curated selection featuring both recent releases and rediscovered classics, screened in restored versions. Among the films to be screened is Moonika Siimets' The Black Hole (2024), a dark sci-fi comedy inspired […]
The ITH Group, which includes the portals Vola.ro, Fru.pl, and GoVola.com and operates in Romania, Poland, and Bulgaria, announced the direct integration of LOT Polish Airlines flights into its own platforms. The collaboration strengthens the group’s position as a regional leader in flight ticket distribution, according to its press release. This will be achieved through […]
In a ruling handed down on Tuesday, May 13, the Bucharest Court of Appeal rejected a request by US authorities for the extradition of a 17-year-old Romanian student. The youth is accused of sending hundreds of bomb threats and manipulating underage girls into engaging in acts of extreme violence, sexual exploitation, and self-harm. Aside from […]
Accor, a global leader in hospitality, has announced the expansion of its presence in Romania by signing a franchise agreement with Amazonia Aquapark SRL for Novotel Timișoara. The newly built hotel is scheduled to open by the end of 2027, marking the brand's first property outside Bucharest and becoming a flagship for Novotel in Eastern […]
A survey published on Wednesday, May 14, by the Open Minds Association shows that Romanians strongly support respect and mutual support in the workplace, signaling that the business environment can play a critical role in supporting social unity. According to the first data set from the “Diversity and Inclusion Barometer,” May 2025 edition, 81% of […]
Eight of the largest business organizations active in Romania have voiced their concern over the accelerating deterioration of the business climate and the erosion of Romania’s credibility. The call is signed by AmCham Romania – American Chamber of Commerce in Romania, AOAR – Association of Romanian Businessmen, AHK – Romanian-German Chamber of Commerce and Industry, […]
