Public buildings to be mandatorily insured against natural disasters

The Government has approved a draft bill to supplement the State Property Act, introducing an obligation to insure the real estate which is public State property against natural disasters and earthquakes. The proposed changes are similar to those approved by the Cabinet two weeks ago, when it adopted a bill amending and supplementing the Municipal Property Act, prompted by the recent natural disasters – the floods in February and the earthquake in May 2012. A considerable amount of money has been set aside for covering the damages and dealing with the consequences of these natural disasters, which can be spared to the State, the municipalities and citizens if real estate is insured against all risks, the motives for the Bill read.

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