Romania’s Financial Supervisory Authority (ASF) discovered that local insurer City Insurance had the largest number of unpaid damage claims, namely 4,710 or 26.15% of its total files.

The company argued that the files had been reported incomplete.

Asirom VIG ranked second, with 11.7% unpaid claims, followed by Generali Romania, with 11.62% unpaid claims.

ASF analyzed the local insurers’ behavior in paying the damage claims related to the RCA mandatory car insurance policies.

Euroins was the company which received most damage files, namely over 31,400. These represented about 27% of the total market. The insurer’s payment ratio amounted to 77.5%.

The company with the highest percentage of late damage payments was City Insurance. The company exceeded the legal term of 10 days for 80.6% of the total files. It was followed by Carpatica Asig S.A, which was late with 80.1% of the claims.

Asirom was late with payments for almost 60% of the claims. For the rest of the companies, the share of damages paid late was below 43%.

editor@romania-insider.com