Press briefing: Clarifications regarding the sanctioning of EUROINS ROMÂNIA ASIGURARE-REASIGURARE S.A.

Bucharest, 27 January 2023 - The Financial Supervisory Authority states that Euroins Romania Asigurare-Reasigurare S.A. was fined 309,400 lei in December 2022 for the following facts:

• infringement of the provisions of Article 21 para. (4) of Law no. 132/2017 on compulsory motor third party liability insurance for the damage caused to third parties by accidents involving vehicles and trams, namely for failure to comply with the payment deadline of 10 days from the date of acceptance of the offer;
• infringement of Article 21(2)(a) and (b) of Directive (1) of Law 132/2017, i.e. for failure to settle the claim within 30 days of its submission by not submitting an offer or notification within this period;
• violation of the provisions of Article 21 para. (5) of Law 132/2017, i.e. for failure to pay penalties together with the compensation.

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About the Financial Supervisory Authority

The Financial Supervisory Authority is the national authority, established in 2013 by GEO 93/2012 approved by Law 113/2013, for the regulation and supervision of the insurance, private pension and capital markets. The FSA contributes to strengthening the integrated framework for the functioning of the three sectors, which together account for more than 10 million participants. More information can be found at www.asfromania.ro.