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Natural Disasters Effects’ Financing Through Insurance in Romania (2010-2015)

Author

Listed:
  • Dan-Constantin Dănulețiu

    (“1 Decembrie 1918” University of Alba Iulia, Romania)

  • Adina-Elena Dănulețiu

    (“1 Decembrie 1918” University of Alba Iulia, Romania)

Abstract

The article analyse the necessity and evolution of the natural disasters effects’ financing through insurance in Romania. There are emphasized the legislation changes that affected the compulsory and voluntary insurance mechanisms and the results of the implementation of the compulsory insurance for natural disasters system at the national level, but also at the regional level. On this analysis, the article concludes about the causes of the evolutions highlighted, suggesting that the frequent changes of legislation, the low level of financial education of a large part of population, the un-applying of fines by local authorities for the people not respecting the law are one of the most important causes.

Suggested Citation

  • Dan-Constantin Dănulețiu & Adina-Elena Dănulețiu, 2016. "Natural Disasters Effects’ Financing Through Insurance in Romania (2010-2015)," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 16(1), pages 83-94.
    • Handle: RePEc:pet:annals:v:16:y:2016:i:1:p:83-94
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    File URL: https://www.upet.ro/annals/economics/pdf/2016/part1/Danuletiu_Danuletiu.pdf
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    References listed on IDEAS

    as
    1. J. David Cummins & Olivier Mahul, 2009. "Catastrophe Risk Financing in Developing Countries : Principles for Public Intervention," World Bank Publications - Books, The World Bank Group, number 6289.
    2. Cristina CIUMAS & Ramona Alexandrina COCA, 2015. "An Analysis Of The Factors Influencing The Demand For Catastrophe Insurance," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 0(Special i), pages 69-78, September.
    3. Marian-Lucian Achim, 2012. "Mathematical Methods Used for Calculate Insurance Premium to The Property Insurance," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 12(2), pages 14-20.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    disasters; risk; insurance; compulsory; voluntary;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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