Romanians are becoming more aware of the risks they face - from natural catastrophes to health and property-related threats - yet the level of insurance protection remains insufficient, according to Alexandru Ciuncan, President & General Director of UNSAR.

In an interview granted to XPRIMM, he pointed out that, despite growing concern over earthquakes, floods or fires, most households continue to rely either on limited compulsory coverage or remain completely uninsured. “The risks are real and increasingly visible, but the degree of financial protection through insurance is still far from adequate,” Ciuncan warns.

This structural gap is confirmed by recent market analyses, including data from Groupama Asigurări, which show that natural disasters rank among the top concerns for Romanians. Risks related to property damage, including fires or accidents, are a major source of concern, particularly among urban homeowners. Health-related risks are also high on the list of concerns. Romanians are increasingly aware of the financial impact of medical issues, especially in the context of rising healthcare costs and limitations within the public system. This growing awareness is gradually translating into higher interest in health and life insurance solutions.

The analysis also points to a mismatch between perceived risks and actual insurance coverage. While awareness of risks is rising, many Romanians still lack adequate protection, either due to affordability constraints or limited understanding of available insurance solutions. According to UNSAR, the mismatch between risk perception and actual coverage reflects several persistent challenges: affordability constraints, low financial literacy and limited understanding of the role insurance can play in protecting personal finances.

Ciuncan emphasizes that improving insurance education and access to simple, transparent products is essential for the market’s development. “Closing the protection gap is not only about products, but also about trust and awareness. Romanians need to better understand the value of insurance as a tool for financial resilience,” he notes.

In a context marked by increasing climate risks and economic uncertainty, industry representatives stress that expanding voluntary insurance coverage will be key to strengthening the resilience of both households and the broader economy.