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New trends in catastrophic risk insurance in Romania

Author

Listed:
  • Dumitru BADEA

    (Bucharest University of Economic Studies, Romania)

  • Laura Elly NAGHI

    (Bucharest University of Economic Studies, Romania)

  • Mihaela COVRIG

    (Bucharest University of Economic Studies, Romania)

Abstract

In a world where natural disasters are intensifying as frequency and severity over the population and material goods, the issue of insuring catastrophic risks is renewed as international specialized companies on this specific market are harder bargaining with local insurance companies. The implementation of Solvency II framework at European level brings about new restrictions concerning risk profile of companies that undertake to offer coverage in this area and thus it is interesting to observe the influence of the legal and technical framework over the actual CAT insurance policies. This paper intends to show the impact of international market changes on the Romanian insurance market and the approach of the insurance companies on CAT risks.

Suggested Citation

  • Dumitru BADEA & Laura Elly NAGHI & Mihaela COVRIG, 2014. "New trends in catastrophic risk insurance in Romania," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(Special), pages 9-14, June.
    • Handle: RePEc:agr:journl:v:xxi:y:2014:i:special:p:9-14
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