The insurance companies City Insurance and Euroins Asigurare Reasiguare were sanctioned by the Financial Supervisory Authority because they made late payments of the compensations related to the RCA damage files. In the case of City Insurance, it was also found that the company did not formulate in writing offers of justified compensation within the term provided by law and did not draw up additional processes of finding within the term provided by the legislation in force. With regard to Euroins, it was also found that it did not make any written notification of the reasons why it did not fully / partially approve the claims within the time limit provided for by law and did not communicate the maximum amount of compensation within provided for by the legislation in force.
For those found, City Insurance was fined 500,000 lei and Euroins Romania Insurance Reinsurance 450,000 lei.
At the same time, following the analysis of the actions of the insurance market supervision and in accordance with the reorganization and efficiency process within the FSA, the Board of the Authority will take in the next period a series of organizational and administrative measures that will be made public at the time of implementation. their application.
*The article has been translated based on the content of Cotidianul RO by www.cotidianul.ro. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!