Catastrophe risk management in Romania and Transylvania’ specifics. Issues for national and local administrations

Worldwide catastrophic events have increased significantly in the last century and caused global economic losses and impacted people lives. Given the circumstances it is necessary for all countries to set up policies, procedures in order to identify, to evaluate, manage and monitor catastrophic risks. Insurance represents one of the solution available in the market for managing catastrophic risks. This paper will study the attitudes of different European countries towards catastrophic risk protection and then we study the Romanian Pool Against Natural Disaster. We concentrate the research on two major areas, earthquakes and floods risks, based on the fact that Romania is most exposed to these risks.