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Households Insurance -Howto Release Catastrophic Risks

Author

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  • Lect. Mădălina Giorgiana Mangra Ph. D, Assoc. Prof. Marieta Stanciu Ph. D, Lect. Natalița Maria Sperdea Ph. D

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

Abstract

The article refers to the compulsory and voluntary insurances for the protection of households which can be affected by natural or technical disasters, risks that can be covered by these insurances. The failure of state’s involvement in supporting the costs led to the reform of insurances, meaning the acquisition, by each owner, of compulsory insurance for one or more households owned by him. The laws were aimed, in turn, at the compulsiveness, and then the non-compulsiveness of households insurance until 2011, when, by the Law 260 republished, it is stipulated the compulsory insurance for natural disasters. The Pool of Insurance against Natural Disasters (PAID) was authorized to conclude compulsory households insurance by issuing the policy of insurance against natural disasters (PAD) which covers risks up to 20,000 euro or 10,000 euro depending on the type of household.

Suggested Citation

  • Lect. Mădălina Giorgiana Mangra Ph. D, Assoc. Prof. Marieta Stanciu Ph. D, Lect. Natalița Maria Sperdea Ph. D, 2011. "Households Insurance -Howto Release Catastrophic Risks," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 4(39), pages 174-179, May.
    • Handle: RePEc:aio:aucsse:v:1:y:2011:i:6:p:174-179
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    File URL: http://feaa.ucv.ro/AUCSSE/0039v4-023.pdf
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    More about this item

    Keywords

    compulsory insurance; voluntary insurance; PAID; PAD; CSA and legislation.;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • K39 - Law and Economics - - Other Substantive Areas of Law - - - Other

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