According to information from the Standard newspaper, the law on the catastrophic pool, which has been under discussion for several years in Bulgaria, may soon become a fact.
The document, which is being prepared by the finance department, is expected to be ready within a week and to be released for public discussion. After the 14-day deadline, the law will be submitted to the Council of Ministers.
The main idea is to finance private property with the help of this pool, and the commission for disasters and accidents to pay with the money from the budget only for public buildings. Compensation for the damaged buildings will be related to the tax assessment of the property.
According to the document prepared by the financial department and according to information from experts, it is not written that all buildings will be subject to compulsory insurance.
In Romania, the so-called catastrophic pool, a similar tool exists in Turkey, where about 30% of properties are insured.
Individual insurance is different from the catastrophic pool. The pool is a fund aimed at covering the damage from natural disasters that have caused damage to a large number of entities.
The law on the catastrophic pool was set as an idea in GERB's election program.
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