Romania Insider
RO insurer Euroins fined with record sum for sluggish compensation payments

Romanian insurer Euroins received a record fine of RON 500,000 (EUR 105,000) for delays in the payment of compensations related to the insurance contracts, Profit.ro announced quoting unofficial sources.

Euroins, part of Bulgarian group Eurohold, was reportedly placed under special administration for a limited period of time as well, according to the same source.

The insurance market’s guarantee fund FGA will appoint a special independent manager for the insurance firm.

The company was also fined last autumn, with RON 50,000 (EUR 10,500), and last week, with another RON 100,000 (21,000) for largely the same irregularities.

The new RON 500,000 fine is the third one the company has received in less than a year.

With a 11.6% share in the general and life insurance market, Euroins is the fourth-biggest local insurer, after City Insurance, Allianz-Țiriac and Omniasig VIG.

The company is the second largest player in the mandatory car liability insurance (RCA) segment, with a share of 32-33% of the market, after City Insurance.

(Photo: Shutterstock)

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For a decade, Romania Insider has been your platform of choice for reliable information on all things Romania. We have always been proud of our ability to bring you bias-free reporting but this hasn't always been easy. We have been thinking about making some changes and can't imagine doing this without your feedback.
For this, we would appreciate it very much if we could borrow 2 minutes of your day to fill out this survey. 
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Romania Insider
RO insurer Euroins fined with record sum for sluggish compensation payments

Romanian insurer Euroins received a record fine of RON 500,000 (EUR 105,000) for delays in the payment of compensations related to the insurance contracts, Profit.ro announced quoting unofficial sources.

Euroins, part of Bulgarian group Eurohold, was reportedly placed under special administration for a limited period of time as well, according to the same source.

The insurance market’s guarantee fund FGA will appoint a special independent manager for the insurance firm.

The company was also fined last autumn, with RON 50,000 (EUR 10,500), and last week, with another RON 100,000 (21,000) for largely the same irregularities.

The new RON 500,000 fine is the third one the company has received in less than a year.

With a 11.6% share in the general and life insurance market, Euroins is the fourth-biggest local insurer, after City Insurance, Allianz-Țiriac and Omniasig VIG.

The company is the second largest player in the mandatory car liability insurance (RCA) segment, with a share of 32-33% of the market, after City Insurance.

(Photo: Shutterstock)

[email protected]

Normal

For a decade, Romania Insider has been your platform of choice for reliable information on all things Romania. We have always been proud of our ability to bring you bias-free reporting but this hasn't always been easy. We have been thinking about making some changes and can't imagine doing this without your feedback.
For this, we would appreciate it very much if we could borrow 2 minutes of your day to fill out this survey. 
Thank you for reading Romania Insider!  

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