Haulers and insurers fight on car insurance policies in Romania

Romania’s Financial Authority (ASF) and the insurance companies haven’t complied with the protocol on the mandatory car insurance policies RCA, according to the Confederation of Transport Operators and Licensed Haulers in Romania (COTAR). They have already increased the RCA price above the agreed level, COTAR members say, reports local Mediafax. In December last year, the insurance companies, the ASF, and COTAR signed an agreement that limited the growth in the RCA price at maximum 50% compared to June 2015. The Financial Supervisory Authority replied that the insurers have respected the protocol. ASF representatives talked yesterday with nine insurance companies that are active in the RCA sector on limiting the increase in the RCA policies at 50% compared to the level of June 2015. The companies include Allianz-Tiriac, Uniqa, Asirom, Carpatica Asig, City Insurance, Euroins, Generali, Groupama and Omniasig. In December 2015, a few thousand carriers protested in front of the Government’s headquarters in Bucharest against the mandatory insurance policy price increase. editor@romania-insider.com