Romania's Competition Council to analyze maximum car insurance tariffs

Romania’s Competition Council will analyze the maximum tariffs of the mandatory car insurance (RCA) policies proposed by the Financial Supervisory Authority (ASF). The competition authority will not verify if calculations and the used methods have been correct, but it will check if the mechanisms are not creating discriminations on the market, reports local Hotnews.ro. ASF needs to establish the maximum RCA tariffs by October 19. These will be applied by insurance companies in the next six months. Road carriers’ representatives said on Monday that “ASF does not disclose the calculations generated by those formulas to escape the responsibility of the results, setting a trap for the Competition Council, which will be the institution that will have to take up the communication of those results.” However, the Competition Council representatives said that they will not analyze if the calculations have been correct. They will only check if the new tariffs are creating possible discriminations in the market. editor@romania-insider.com