Adrian MARIN, UNSAR: Financial education allows consumers to choose the insurance products that best cover their needs

"Romanian insurers paid claims totaling 30.5 million RON in the first 6 months of 2018 in the household insurance segment", explained Adrian MARIN, President, UNSAR, during ICAR - The International Catastrophic Risks Forum.

"We are witnessing an increase in damages caused by extreme weather events and floods - we have a reported 6,000 damages from storms and 2,500 damages caused by extreme weather events in June and July 2018 in the voluntary household insurance segment alone," he added on the topic.

Romanians are becoming more and more exposed to these types of risks and the protection gap in the country continues to be large, as indicated by a 2017 analysis made by one of the largest brokerage companies in the world.

A solution for reducing the insurance gap is presented by financial education. However, actions dedicated to increasing financial education are very difficult to quantify when it comes to results.

"We are all responsible for the financial education of consumers. UNSAR has been involved and continues to be involved in various financial education campaigns. Financial education allows consumers to choose the insurance products that best cover their needs," Adrian MARIN asserted.

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