Like fooled Romanians on the MTPL market: compulsory insurance is becoming more expensive

Romanian drivers are going through a difficult period from an economic point of view. The last few months, after the resounding bankruptcy of City Insurance, have brought a real price explosion on the Romanian market.

There are rumors that a cartel would have formed on the RCA market in our country. Such a statement belongs, for example, to economist Radu Soviani.

What’s wrong, actually

“Someone sends him statistics on RCA prices. He shows me here a 6-month RCA price of 1,631 lei, attention! But this is not the anomaly, because it actually costs two or three times more. If you look at 12 months, it’s 1,328 lei. A 6-month insurance has come to cost more than a 12-month insurance, which, in my view, should be 6 months cheaper than offering a 6-month insurance service.

These figures show very clearly that the companies that issue RCA have been cartelized. When the ASF (no – Financial Supervisory Authority) is six and comes with double or triple insurance in the insurance market compared to last year they were cartelized and then they anticipate that at some point it will crack. They want to push you to buy for 6 months because eventually, at some point, the prices will return to normal “, said Radu Soviani, for B1 TV.

The economist also warns that there is a risk that drivers will end up driving even without compulsory car insurance, which would, of course, be extremely serious.

“People may travel less, they will travel without insurance. Driving without insurance will pay the entire state for compensation to the victims, while the state is defrauded by the way the six authorities stand, at all levels. We see at the level of the Guarantee Fund. Because the ASF did not properly supervise the situation at City Insurance, the other insurance companies end up increasing their contribution to the insurance guarantee fund, so that my insurance becomes more expensive and I pay Marcu’s incompetence (no – Nicu Marcu, ASF President) and others, because they did not supervise properly.

You can’t pretend that you knew about the forged account statement in February and let them issue another 1 billion policies for another 7 months, unless you are hand in hand with them “, Soviani also pointed out.