Romania's Competition Council may slap heavy fines on mandatory car insurers

Romania’s Competition Council may fine local insurance companies active on the mandatory car insurance (RCA) segment with up to 4% of their turnovers for uncompetitive practices and agreements related to the policy prices, according to official sources quoted by Economica.net. The Competition Council started its investigation on this market three years ago and will announce its decision this fall. If it decides to keep the fine at 4% of the insurers’ turnovers, the total fines may reach over EUR 50 million. editor@romania-insider.com