Largest insurers in Romania to update mandatory car insurance prices
Allianz Tiriac and Omniasig VIG, two of the largest companies in Romania’s insurance market, plan to amend the mandatory car insurance (RCA) tariffs.
They have notified or will notify the Financial Supervisory Authority (ASF) about their intention, reports Profit.ro.
It is the first move of this kind after the new RCA law entered into force. Prices will change at the earliest in October because of bureaucratic issues related to the new regulations in the field.
The two insurance companies also analyze the possibility of lowering tariffs on certain segments that are profitable, according to Profit.ro sources.
The new RCA law, which the Parliament adopted in May, replaced the maximum RCA price, introduced by the Financial Supervisory Authority (ASF) six months ago, with a reference price that will be calculated by ASF and will be indicative for the local insurers.
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