Mandatory home insurance is "returned", included in the WB project

Mandatory insurance of residential units (houses) is expected to return once again for discussion at the government tables, possibly going towards approval even though it has been suspended for years.

At least this is what the World Bank makes clear in a document of its own where the Albanian government has requested support with 120 million dollars for increased sustainability and green development.

Among the many aspects related to stability, where the budget is not shocked by the unexpected that in recent years have not been missing, such as earthquakes, pandemics, crises, emphasis is placed on providing special pockets that financially cope with these needs.

So the forecast of funds. In this context, the Bank argues some of the aspects that serve as triggers or instigators of this large project where mandatory earthquake insurance of houses and public private partnerships are in focus.

"The approval of the Law on Mandatory Insurance of residential properties against earthquakes is foreseen. Taking climate change into account in the public investment management selection process ensures that project designs are more resilient against natural disasters and climate change.

The approval of changes in the PPP Law is foreseen, harmonizing the PPP and the public procurement framework. As for families, this pillar supports their earthquake insurance and helps the disabled and the most vulnerable to benefit from increased effectiveness of disability assistance," the Bank's document says.

The same report cites the International Monetary Fund in the latest summary for Albania in 2022 which states that Albania experiences an average of 0.8 natural disasters per year, and average and median costs of 0.6 percent of GDP and 1.3 percent of GDP, respectively. to happen (accident).

Compulsory insurance draft

Shqipëria mbetet një vend me aktivitet sizmik të ndjeshëm duke e bërë shpesh herë sigurimin ndaj këtyre ngjarjeve pjesë të tryezave . Por pas tërmetit shkatërrues të 26 nëntorit 2019 ku dëmet për Shqipërinë llogariteshin në rreth 1 miliardë euro qeveria nxitoi të deklaronte se do të kishte ndërhyrje ligjore.

Si pjesë e diskutimit të asaj kohe ishte edhe sigurimi i detyrueshëm i banesave për të cilën Banka Botërore kishte vite që lobonte por që nuk ishte arritur të finalizohej asnjëherë.

Në dhjetor 2019 as një muaj nga tërmeti nisi të qarkullonte drafti i parë i sigurimit të detyrueshëm të banesave i cili parashikonte krijimin e një agjencie të dedikuar. Po kështu drafti parashikonte prime në dy shkallë. Prim sigurimi 25 Euro, për risqet e siguruara për ndërtimet me beton dhe 15 Euro, për risqet e siguruara nga ndërtimet me muratura të tjera.

The same document did not foresee any other disaster thus excluding floods which are another eventuality that happens not infrequently in the country in different regions.

But since that moment it seems that the process has not progressed further. The only one that has found application is the 10-year insurance for new constructions, but which in itself has nothing to do with the earthquake, but with the coverage of damages to third parties, where due to the ground or a defect in the construction, the construction collapses - partially or completely , or presents a risk of collapse.

The minimum value that was established at that time for this type of insurance was 0.1% percent of the sum insured/limit of liability defined in the insurance contract. The VKM was approved in 2019 and was boosted by the September earthquakes of the same year./Monitor