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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.
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
