To protect the consumers against the “speculative attempts”, the Romanian financial markets regulator ASF proposed and the Ministry of Finance reportedly approved to cap the third-party liability (RCA) car insurance fees for six months.

The fees will be capped at a level some 30% lower compared to those charged in August 2021, after the collapse of the insurer City Insurance.

“We believe the Government will consider and approve our proposal, aimed at protecting consumers against speculations or inflation,” ASF president Nicu Marcu stated, quoted by Profit.ro.

The Government explained that it decided, upon consultations with the competition body Consiliul Concurentei and with associations of transportation companies, to admit ASF’s request and to set by Government decision maximal fees.

The RCA segment accounts for one-third of the total life and general insurance market.

Under another provision included in the Government’s decision, the distribution fees will be cut to 5% maximum (from as high as 30% currently), according to Economedia.ro. 

(Photo: Pixabay)

andrei@romania-insider.com