Insurers pay 128 million lei between 2019 and 2024 for damages caused by storms

Member companies of the National Union of Insurance and Reinsurance Companies of Romania (UNSAR) paid out approximately 128 million lei in compensation between 2019 and 2024 solely for damages caused by storms to insured homes, based on optional insurance policies.

According to a press release from the professional association, sent to AGERPRES on Friday, if in 2019 the total value of compensation paid for storm-related risks slightly exceeded 10 million lei, in 2024 that figure increased nearly sixfold, to over 56 million lei. The 2024 amount was paid out in connection with more than 7,500 damage claims - a 150% increase compared to the number of claims recorded in 2019.

"The increasingly frequent storms hitting Romania remind us how vulnerable we are to nature and how important it is for our homes to be protected through adequate insurance. The risk of storms is just one of the many risks and unforeseen situations that can be covered by an optional home insurance policy - an essential tool for any homeowner or tenant," Alexandru Ciuncan, President and CEO of UNSAR, is quoted in the press release as saying.

According to data collected for the first half of 2025, over 5,250 damage claims have already been filed for issues caused by storms and floods, affecting homes, vehicles, and businesses.

"In the context of climate change, it is essential that we understand the importance of protecting our homes. The largest compensation paid in recent years for storm damage under an optional home insurance policy was approximately 400,000 lei - a concrete example of the financial support provided by insurers during critical moments," said Alina Barbulescu, Property & Goods Insurance Specialist at UNSAR.

Founded in 1994, the National Union of Insurance and Reinsurance Companies of Romania represents 21 insurance firms, accounting for over 90% of the local insurance market. Since 2007, UNSAR has been a full member of Insurance Europe - the European insurance and reinsurance federation.

According to the organisation, insurers in Romania pay out around 6.5 million euros in compensation every calendar day.