Bulgarian Minister Calls for Mandatory Buildings Insurance

Business » PROPERTIES | June 2, 2012, Saturday // 14:36| Views: | Comments: 0
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Bulgarian Regional Minister Calls for Mandatory Private Property Insurance: Bulgarian Minister Calls for Mandatory Buildings Insurance Bulgaria's Minister of Regional Development, Lilyana Pavlova, wants to introduce mandatory insurance and technical passport for all private properties. Photo by BGNES

Bulgaria's Minister of Regional Development, Lilyana Pavlova, is calling for the introduction of mandatory insurance for private residencies and all privately-owned buildings.

Speaking in an interview for Darik radio Saturday, Pavlova pointed out that the above is her personal opinion, nevertheless it will be discussed at the next meeting of the Cabinet.

"The law now postulates mandatory insurance for State and municipal properties only, but I believe the mandate should be for all buildings in the country. We have insurance with full coverage for our private automobiles; we must do the same for our homes as well," said she.

In addition to insurance, the Minister also asked for all buildings to have the so-called technical passport, stressing that the two should be the most important requirements for every home and building owner. Pavlova said that the earthquake that hit western Bulgaria on May 22 with a 5.8 magnitude on the Richter scale is the latest proof that she is right in her request.

She noted that in Bulgaria private ownership is nearly 98%.

"This is nearly unique, this huge percentage of private properties. There is nothing bad in it, but since we are owners, we must take care of our real estate and other assets," the Minister concluded.

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Tags: Minister of Regional Development, Lilyana Pavlova, mandatory, insurance, technical passport, private, properties, Earthquake
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