EC admits Romanian insurers’ complaint on maximum RCA tariffs

The European Commission has admitted a complaint from the Romanian insurers’ association UNSAR against the Government’s emergency ordinance that sets the maximum prices for mandatory car insurance (RCA) for the next six months. The Government has ten weeks to respond and state its point of view, according to a press release of UNSAR, cited by local Agerpres. The European Commission then has another ten weeks to analyze the answer of the Romanian authorities. This means that UNSAR will need to wait for about five months until they get an answer on their complaint. “Besides violating national and European regulations, capping the RCA tariffs will have negative effects on the medium and long term that will also be felt by the insured,” according to UNSAR. Insurance companies operating in Romania as well as insurance brokers are contesting the recently adopted “RCA ordinance”, unhappy with maximum prices for RCA insurance for the next six months. The maximum tariffs were decided in a special meeting of the Financial Supervisory Authority (ASF) on October 6. The Government decided to freeze RCA prices for six months after massive protests from road carriers in Romania who complained about the high increase in RCA premiums in recent years. editor@romania-insider.com