Assessment of Romania’s MTPL Market in the Wake of the City Insurance and Euroins Bankruptcies

Radu Moldovan
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Radu Moldovan: Competition Council

Romanian Competition Journal, 2024, vol. 3, issue 2, 66-71

Abstract: The bankruptcy of City Insurance and Euroins sent shockwaves through Romania’s MTPL (civil liability insurance for car owners) market, exposing serious flaws in the readiness of the Financial Supervisory Authority (ASF) and the Insured Guarantee Fund (FGA). This paper examines critical delays in compensation payouts, the financial impact on consumers and auto repair shops, and the resulting rise in MTPL premiums.

The recommendations focus on increasing transparency, speeding up payment processes, and introducing effective mechanisms to safeguard creditors.

The findings underline an urgent need for regulatory reform.

Keywords: city insurance; euroins; romanian mtpl market; delayed compensation; asf and fga; process transparency. (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ris:rocojo:021958

DOI: 10.58276/RCJ.2024.2.3

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