EnglishMarius Bulugea has been appointed as Managing Director of the Disaster Insurance Pool (PAID) during a recent meeting of the Board of Directors.
Marius Bulugea is currently the Managing Director of the Regulatory & Mandatory Insurance Licensing Directorate of the Insurance Supervisory Commission (CSA).
"The managing director will proceed with creating the organisation chart of the newly established company as one of his first tasks," Bulugea said.
PAID CEO Constantin Toma added: "We will start the process of organising PAID and selecting a supplier of an IT system. We will also have talks with the re-insurers and the insurance brokers to identify the best solutions for risk placement."
PAID is the company that will issue the mandatory home insurance policies. The company"s articles of incorporation was signed on 23 September 2009. The mandatory home insurance policy will insure all Romanian home owners against earthquakes, landslides and flooding, in line with Law 260/2008.
The PAID articles of incorporation was signed by ASTRA Asigurari, Groupama Asigurari, CLAL Romania Asigurari Reasigurari, Uniqa Asigurari, City Insurance, Certasig Societate de Asigurare & Reasigurare, Asigurare Reasigurare ARDAF, Generali Asigurari, Carpatica Asig, Euroins Romania Asigurare Reasigurare, Grawe Romania Asigurare, Credit Europe Asigurari-Reasigurari and ABC Asigurari-Reasigurari.
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