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Solving the Cost of Bulgaria`s Earthquakes

The earthquakes that recently shook western Bulgaria have been recorded as some of the worst in 70 years and have raised several issues for the country.

The cost for emergency repairs amounts to millions of leva to the widespread damage and destruction of homes, schools, churches, bridges and roads. A combination of state money and organised fund raising is to help pay for the cost.

But it raises several issues for authorities who have raised awareness that in some countries a reserve account is available to finance large scale disasters, plus an introduction of compulsory individual insurance cover for private buildings.

Presently the law only demands that state buildings and municipalities have insurance cover.
The intention for the future is to create awareness to home owners about insurance policies and cover all aspects of real estate in Bulgaria. At the moment there is limited understanding regarding this subject; Bulgarians buy insurance to cover their cars but they do not presume their homes should be covered in the event of a disaster too. However, ministers understand it will not be accepted by many homeowners because it is an extra expense many people simply cannot afford.

Insurance companies in Bulgaria consider they are partly to blame for not advertising their services enough in the real estate market to make more citizens aware of insuring their homes in Bulgaria.

An additional issue raised is the introduction of a state programme that ensures new buildings and constructions meet with the necessary seismic strengthening to with stand any future earthquakes. Furthermore an inspection of all kindergartens and schools is to be undertaken to ensure the safety of the buildings.

Personal cost

Of course there is not just the financial side to such events in any country, there is also the human cost, so spare a thought to the woman who died from a heart attack after the quake and to those who were injured and taken to hospital. What's more, there is the suffering from the ordeal of such events with the damage to personnel property and loss of services that people have to endure. Nevertheless, in these situations emergency services do there upmost best to help get lives back to normal as soon as possible.