Mandatory car insurance premiums, up 53% in Romania

Romania’s Financial Supervisory Authority (ASF) is concerned about the higher mandatory car insurance tariffs (RCA) and has advised the insurers to take the necessary measures to reverse this trend. The average 12-month RCA premium for vans and trucks was EUR 640 in February this year, up by 53% compared to June 2015, reports local Agerpres. The number of premiums for vans and trucks concluded in February this year grew by 40.4% over June last year. According to a European Directive, the Financial Supervisory Authority doesn’t need to approve the RCA tariffs. However, ASF said that it might have to use other methods than dialogue and trust to deal with the tariff hikes as transporters have been complaining about the RCA cost increase and have threatened to start a big protest in April. editor@romania-insider.com