Reinsurance – an efficient solution of catastrophe risk transfer for the housing stock of Romania

Nicoleta Radu
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Nicoleta Radu: University of Economic Studies, Bucharest, Romania

Theoretical and Applied Economics, 2022, vol. XXIX, issue 2(631), Summer, 139-150

Abstract: As economic losses caused by natural disasters substantially increase in volume, impacting national economies, post-disaster reconstruction financing becomes crucial, especially for countries with fragile economies. The growing gap between economic and insured losses calls for a pragmatic approach related to financial protection solutions. Romania is one of the few countries that adopted a solution to cut down this deficit of protection in the case of the residential system. This system considers reinsurance as a sustainable risk transfer method, meant to quickly and efficiently attract the funds required to rebuild the housing stock in the event of a disaster.

Keywords: reinsurance; risk transfer; mandatory insurance; natural catastrophe. (search for similar items in EconPapers)
Date: 2022
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