RCA Insurers To Be Held Liable Once Policies Are Released - Regulator

Romanian insurers who sign civil liability car insurance policies (RCA) will be held liable from the moment the policy is released, the country’s insurance regulator CSA said Tuesday.

7 views

The regulator decided to amend the norms concerning RCA policies so that insurance companies will no longer interpret the provisions at will, to the detriment of their clients, CSA president Angela Tomescu said.

The current RCA regulations stipulate insurance companies are to be held liable for RCA policies from the moment the insurance premium is paid and the policy is released.

In some cases, insurers refused to pay out damage claims arguing the RCA policy is only valid after due premiums are cashed.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.