It’s an earthquake in the RCA market: Insurers, take it for granted. These are the companies that were discovered in violation

The Financial Supervisory Authority announced, on Thursday, the list of penalties applicable to the Romanian insurance market.

RCA’s market leader, Euroins, has not escaped sanctions either. The company received a fine of more than 3 million lei from the Financial Supervisory Authority. the reason? According to the foundation, the penalty was applied to the company, which has more than 3.1 million customers, for recording non-compliant funds and delays in paying compensation and ascertaining RCA damages.

The official announcement of ASF

In a press release, representatives of the institution sent the revised list of companies in the Romanian insurance market. Here are the names of the companies, the amounts charged as a penalty and also the reasons why the ASF resorts to these fines:

Euroins Romania Asigurare Reasigurare SA. Punishing the company with a fine of 2,398,700 lei for recording inconsistent funds and a cumulative fine of 652,100 lei for failing to submit all documents required by the monitoring team, late payment of RCA compensation, non-payment of fines, finding of RCA damages with delay and understatement from the reported damage reserve.

Euroins Romania Asigurare Reasigurare SA – Punishment of Mrs. Tania Platnik, CEO of Euroins Romania Asigurare Reasigurare SA, with a fine of 98,500 lei for submitting inconsistent reports.

Groupama Asigurări SA – Punishing the company with a warning and a fine of 62,900 lei for late payment of MTPL compensation, non-payment of fines and finding late compensation for MTPL.

Transilvania Broker de Asigurare SA – Punish the company with a written warning that the information / data entered in the insurance contract is incorrect and unclear.

At the moment, drivers in Romania are waiting for the maximum price for RCA policies. We remind you that in February, the Ministry of Finance proposed a draft government decision, developed in cooperation with the Financial Supervisory Authority, which included a temporary determination, for a period of 6 months, of the RCA premium rates charged by insurance companies. At the end of March, the competition board approved the project in question, according to the finance minister.

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