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Most countries in the world are suffering from natural disasters caused by floods, earthquake, tornado and even tsunami. The developed countries have efficient techniques of covering such tragic events, but also the damages and losses are huge. A delicate problem appears when the catastrophes occur in a less developed country – where the risk transfer mechanisms aren’t known or applied by local governments. One reason of missing such a protection plan is the lack of financial resources from the people. In this paper we will both a theoretical and practical analysis of the situation that exist in Romania, and the steps that Romanian Govern intend to take, in order to decrease the exceptional expenses from the national budget – cause by natural disasters.

Keywords: earthquake, floods, Insurance, risk management, compulsory