The Foundation For The Defense Of Citizens Against State Abuses (FACIAS) has successfully gotten the Romanian Government to admit that before the resounding collapse of Euroins, representatives of the Romanian Prime Minister's Office had a secret meeting with the management of the Financial Supervisory Authority and representatives of the insurance company.
FACIAS reacted after the largest insurance company went bankrupt last year, and asked the authorities for information to clarify why the Financial Supervisory Authority did nothing to prevent this catastrophe, which caused many Romanians to suffer.
Having learned that a meeting between Euroins and government authorities took place a few months before the bankruptcy, FACIAS asked the Executive to make public what was discussed. This is how FACIAS found out that the meeting was in fact a secret one, with the Government ignoring the request. Unfortunately for the institution headed at the time by Nicolae Ciucă, there are no meetings with public authorities that cannot be made public. So FACIAS has asked the court for details of the meeting.
In the statement of defence filed by the Romanian Government, the institution indirectly acknowledges that the meeting took place, but uses all sorts of legal tricks to avoid making the content of the discussions public. Specifically, the officials invoke the GDPR but also the lack of quality of FACIAS, but do not deny the existence of the meeting. FACIAS believes that the Government's obligation to disclose information of public interest as requested is a legal obligation that cannot be interpreted otherwise.
WHAT IS THE DEAL WITH THIS MEETING
Statul român plătește cu salarii uriașe niște experți în domeniul asigurărilor în cadrul unei instituții numită Autoritatea de Supraveghere Financiară. Această instituție trebuie să prevină astfel de dezastre, semnalând și luând măsuri împotriva firmelor care derapează, înainte ca prăbușirea acestor firme să se producă. ASF are rolul de a proteja populația care încheie polițe obligatorii de efectele unor astfel de falimente. Cu toate acestea, în decursul unui an 2 cele mai mari societăți de asigurări. Întâlnirea la care facem referire s-a desfășurat la o lună de la falimentul City Insurance și doar cu câteva luni înainte de prăbușirea Euroins. FACIAS consideră că discuțiile dintre autorități și reprezentații acestei societăți ar aduce lumină în acest faliment de răsunet.
COMPLAINT TO DNA FOR UNJUSTIFIED BONUSES
FACIAS has also filed a complaint with DNA over the huge bonuses awarded to members of the FSA board. In 2023 alone, executive and non-executive members of the ASF received more than 720,000 in bonuses. The FSA president earned 122,262 lei, the ASF first vice-president 113,114 lei and the vice-presidents 103,965 lei. Even non-executive members earned 57,665 lei each, at a time when the compulsory insurance market has seen the biggest bankruptcies in its history.