Less than 10 pct of Romanian public events are insured, says CertAsig

Newsroom 25/05/2016 | 16:38

Though Romania is host to thousands of public events yearly, less than 10 percent are insured, according to estimates from James Grindley, CertAsig’s CEO.

The niche of sports events for amateurs is one that presents the most potential for risk, Grindley said, with specific risks including event cancellation due to adverse weather conditions or other unforeseen circumstances, location or equipment damage or even injury to participants.

Although less than 10 percent of the events taking place in Romania have insurance, this year we see a clear trend of increasing interest. Various incidents that occurred in recent years have prompted the organizers to take their responsibility towards participants more seriously and to use insurance policies to protect them in case of accidents,” added James Grindley.

A premiere this year was brought on by the Wine Marathon 2016 (pictured), during which all 540 participants benefited from insurance for risk of accidents. The insurance covered the risk of hospitalization, convalescence, surgery, fractures or medical expenses as a result of an accident and the risk of death or permanent total or partial disability due to accidents.

CertAsig is a Romanian insurance company, with headquarters in Bucharest, Romania and operations in Romania, Turkey and Bulgaria. The company’s majority shareholder is Royalton Capital Investors II, a private equity fund focused on companies in financial services in countries in Central and Eastern Europe.

With branches in Constanta, Timisoara and Cluj, regional companies in Suceava, Ploiesti and Ramnicu Valcea, a liaison office in Istanbul (Turkey) and a branch in Sofia (Bulgaria), CertAsig has a team of over 80 specialists in insurance.

Natalia Martian

BR Magazine | Latest Issue

Download PDF or read online: December 2022 Issue | Business Review Magazine

The December 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Xclusiverse: Going Beyond the Traditional Ways of Doing Business.”
Newsroom | 19/12/2022 | 18:45

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of business-review.eu
    I agree with the storage and handling of my data by business-review.eu
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue