The Board of the Financial Supervisory Authority (ASF) approved on Wednesday the results of the unannounced control performed at insurer Euroins Romania Asigurare-Reasigurare S.A and decided to fine the company 100,000 lei (about 21,000 euros), ASF said in a release.
"The ASF Board has decided to fine the company 100,000 lei for failure to comply with the provisions of Law No. 132/2017 and Enforcement Guideline 20/2017 regarding: the registration of the submitted claim request; the answer to the claim request and the formulation of the offer; the use of a record of findings form that makes no mention of the damaged person's right to turn to any auto repair unit, without any restriction or constraint on the part of the RCA insurer; the use of reference sources not laid down in the insurance law; the term for the completion of the additional record of findings," the release said.
Also, the ASF Board decided that within 30 days from the receipt of the decision, Euroins shall present a plan of measures to remedy the found deficiencies. The company can challenge the sanction within 30 days from the notification of the ASF Board's decision.
In September 2019 the ASF slapped insurers City Insurance SA and Euroins Romania Asigurare-Reasigurare SA with a fine of 50,000 lei each for delaying the payment of claims.
AGERPRES