Car insurance fees surge on City Insurance’s expected bankruptcy
All Romanian insurers have significantly raised the prices charged for the mandatory car insurances (RCA) OVER the last ten days amid major problems faced by the market leader City Insurance, which is close to bankruptcy, Bursa reported.
Data supplied by insurance brokers consulted by HotNews.ro indicate that Euroins, the second-largest RCA insurer, previously charging prices marginally above those charged by City, increased the fees the most, while other insurers followed the same trend.
In separate news, there are reports about car repair shops refusing car owners that show up with insurance policies issued by City. I
n separate news, prime minister Florin Citu announced that the Government would pass next week two emergency ordinances (OUG): one of them will regard the prices on the RCA market, and the other will regard particularly the situation at City Insurance and will guarantee that all those with a claim against City will receive their money, News.ro reported.