All too often, citizens have to bear the consequences of a system that fails to protect them. On their behalf, The Foundation for the Defence of the Citizen Against State Abuse (FACIAS) has taken a stand and demanded answers. Moreover, we recall that in March this year, FACIAS filed a criminal complaint against the Financial Supervisory Authority (ASF). At the heart of this action is the disastrous way in which the ASF has managed the RCA insurance system, leaving companies such as Euroins, City Insurance and Astra to go bankrupt one after the other, with a devastating impact for Romanians.
Each bankruptcy has meant an increase in costs for citizens. The price of RCA policies nearly tripled after the collapse of City Insurance, and now, after the bankruptcy of Euroins, it has taken state intervention to stop prices from exploding again. However, in addition to the direct consequences of drivers being forced to pay triple prices for insurance, Romanians also have to pay for claims that insurance companies have been unable to honour. The Insurance Guarantee Fund (FGA) has responded to FACIAS's requests and told us that by the end of March 2023, more than 250,000 claims had been registered by the injured parties. Of these, ONLY 82,000 claims have been approved and the amount to be paid is over 150 million EURO. If the proportion remains unchanged, the Romanian state will have to pay around 500 million EURO to City Insurance claimants after all claims have been settled, a huge amount of taxpayers' money. And yet, the ASF leaders remain adamant in their positions, insisting that they have handled the situation as they should. DOAR 82.000 de cereri au fost avizate, iar suma pe care trebuie să o plătească este de peste 150 milioane de EURO. Dacă proporția se păstrează, după soluționarea tuturor cererilor, statul român va trebui să plătească aproximativ 500 milioane de EURO păgubiților City Insurance, o sumă uriașă plătită din banii contribuabililor. Și totuși, liderii ASF rămân neclintiți în pozițiile lor, insistând că au gestionat situația așa cum se cuvenea.
70,000 Romanians also lost to Euroins
The Guarantee Fund reports that it has also received some 70,000 claims from Euroins policyholders following the company's bankruptcy in March this year, with an estimated payment amount of around €100 million. In addition, more than 11,000 Romanians have made claims for the refund of the insurance premium they had already paid to Euroins.
The Guarantee Fund reports that it has also received some 70,000 claims from Euroins policyholders following the company's bankruptcy in March this year, with an estimated payment amount of around €100 million. In addition, more than 11,000 Romanians have made claims for the refund of the insurance premium they had already paid to Euroins.