The head of the Financial Supervision Authority (ASF), Misu Negritoiu, promises to finalize the reference prices for RCA on categories and vehicles classes insured in a shorter interval than the 30 days requested in the emergency ordinance, as well as the debates with the the transport firms regarding the tariffs value.
“We’ll start the work, we’ll gather the necessary data and we’ll have to work in a shorter term than the one requested by the ordonnance to deliver the reference tariffs as soon as possible. At the moment I can’t say more, but for sure we’ll continue the consultancies with them, including for the final tariffs, but we’ll have to consult also with the other state institutions. The Competition Council is involved in the process, according to the procedure, but in the end the normative act will be adopted through the general decision and the Public Finance Ministry will be involved,”
The ASF head explained how the capped prices will be computed.
„These have to comprise the technical elements, such as: the damages frequency, the charges for administrative expenses, acquisitions, taxes and the the bonus-malus system applicability charges,” said Negritoiu.
Transport firms staged a protest yesterday across Romania, arguing that the current pricing environment for RCA insurance policies was driving them out of business.