PAID: Number of mandatory insured houses down in October by 2.7 pct

The number of mandatory insured houses went down year-on-year in October by 2.7 percent to 1.67 million, according to the statistics of the Pool of Insurance Against Natural Disasters (PAID), the company that issues this kind of insurances.

At the end of the last year were active 1.703 million policies PAD, while on December 31, 2015, were active 1.590 million policies.

According to PAID, at the end of September, 75.5 percent of the active policies at national level were closed in the urban area and 24.5 percent in rural area, and according to the type of house, 92.9 percent of PAD policies focus on A type of houses and 7.1 percent houses of B type.

On regions, most of the policies are active in Transylvania (20 percent of the total), Bucharest (19 percent) and Muntenia (18 percent) and the least are in Maramures (3 percent of the overall policies) and Bucovina (3 percent).

PAID issues mandatory houses insurances from July 2010. The main objective of PAID is the insurance coverage of three risks of natural disasters- earthquakes, floods and landslides for all houses in Romania.