Romanian insurers charged EUR 5.7 bln for RCA and paid damages of EUR 3.7 bln, say transport firms

Newsroom 26/09/2016 | 15:54

RCA insurers registered subscribed gross premiums worth EUR 5.7 billion and paid damages of EUR 3.7 billion during the 2005-2015 period, registering EUR 2 billion for administrative expenses and profit, according to the road transports unions- UNTRR, FORT, APULUM, APTE 2002.

„The transports unions- UNTRR, FORT, APULUM, APTE 2002 believe that the RCA insurers from Romania establish tariffs the way they want, as they are not able of proving in public what is the price composed of, ” says the release.

The government has decided to let the Financial Supervision Authority (ASF) set a temporary cap of 6 months for RCA prices of individuals and companies. The government’s intervention came shortly after the transport companies claimed that the current pricing environment for RCA was driving them out of business.

Georgiana Bendre

BR Magazine | Latest Issue

Download PDF: Business Review Magazine April 2024 Issue

The April 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Caring for People and for the Planet”. To download the magazine in
Newsroom | 12/04/2024 | 17:28
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue