Romania's financial regulator sets maximum prices for mandatory car insurance

Romania’s Financial Supervisory Authority (ASF) approved yesterday the maximum premiums for mandatory car insurance - RCA. The maximum price will amount to some EUR 1,670 for a truck, and to EUR 1,462 for a bus. The maximum RCA premium for the motor vehicles with an engine capacity between 1201-1400 cc, owned by individuals aged 31-40, will be EUR 135.2. The calculation formula includes frequency of damage, average damage, the claims incurred but not reported or the damage inflation. The maximum tariffs will be sent to the Finance Ministry, which will submit them to the Government for approval. editor@romania-insider.com