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The leader of the local insurance market and the company that dominates the RCA market with authority, with a share that has never been reached before (more than one in three lei collected in RCA goes to the City) is not a leader in terms of number of requests, ranking second. However, the large percentage of complaints that is considered justified places it well ahead of any of those maximums. Two-thirds of the requests made by the victims, their agents or other intermediaries were considered justified, according to data from the ASF.
The main reasons people complain are non-compliance with MTPL legislation or partial payment, late payment or non-payment of damages.
ECONOMICA.NET pursued a case that may be relevant to a certain type of City Insurance behavior and is in possession of all documents related to this situation. This case has finally reached the FSA and a response is still awaited.
The “antifraud” pretext is back in force as a reason for non-payment. Ask the police for reports, even if there are minor accidents!
The case is striking, due to the ease with which the representatives of the City’s Insurance rejected the payment of the damages. It was a car hit by a truck with its back turned. The driver of the truck not only admitted his guilt but even completed a statement on his own responsibility in this regard. Lacking inspiration and relying on the opening of the at-fault driver, the driver of the crashed car did not request the arrival of the Police and the issuance of an accident report. It was enough for City Insurance, which took the file through the anti-fraud route, although it was a trivial accident, without technical complications.
In addition, the insurer responded to the claim only after more than ten days, although the law requires it to do so within a maximum period of five days. In this way, it also eliminated the possibility that the injured person would finally go to the Police, since such request can be made within a maximum period of two weeks from the accident.
The answer, of astonishing simplicity, was that the file was rejected. Officially, it is stated that “after technical experience it was found that the accident did not occur as presented in the documents.” Unofficially, it was explained that the dynamics of the accident falls within a pattern of fraud and therefore no compensation will be paid. No technical details, no full explanation.
The company considered, more simply, that if in several cases there were agreements between truck drivers and other people to stage an accident, in all these situations it is a fraud. The use of anti-fraud as a pretext for default or late payment is not new. The strategy was also used by other large companies in the MTPL area and perfected by the former Astra Asigurări, currently bankrupt. In this context, obtaining a police report can make the difference between collecting and not collecting compensation money. With the report, the company can no longer take the case to the fight against fraud.
The main findings of the report on requests to 6 months in 2020:
– The Financial Supervision Authority (ASF) ruled in favor of consumers, in the first semester of 2020, a number of 9,780 petitions and non-compliance information (54%), analyzed in a unique way by the petitioner, received in the sector of insurance-reinsurance. Of these, 77.47% were fulfilled by payment, the requests having legitimacy and legal framework for liquidation.
– ASF found that it unfoundedly formulated / unfavorably resolved 8,331 petitions and information of non-compliance analyzed in a unique way (46%), representing cases in which the Authority does not have the capacity to intervene in the application of current legislation and / or for which you cannot require insurers to claim formulated compensation.
– The Financial Supervision Authority registered, in the first semester of 2020, a number of 21,861 petitions and reports of non-compliance, increasing by 114.85% compared to the total registered in the first semester of 2019.
– Of the 21,861 requests and reports of non-compliance, 97.18% are requests and reports of non-compliance related to the insurance market – reinsurance, 2.16% are requests related to the private pension market, 0.36% They are requests related to the financial and investment instruments market and 0.30% represent diverse requests that exceed the competence of the Financial Superintendency.
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18,111 petitions and information on non-compliance were registered in a unique way per petitioner, analyzed and resolved, increasing by 133.75% compared to the number of petitions registered in the first half of 2019. The other petitions and non-compliance information (3,133) were connected or classified.
From the analysis of the data reported by the insurers to the ASF, it was found that the 18,111 petitions and non-compliance information analyzed and resolved in a unique way per petitioner in the first half of 2020 represent 2.80% of the total claims submitted. by insurers in the first half of 2020 and 0.11% of the number of insurance contracts in force as of 06.30.2020.
What the petitioners complained about: The most denounced aspect in the first semester of 2020 was the non-compliance with the provisions of the legislation on the matter and the contractual standards / conditions of the ASF, an aspect found in 17,554 cases (96.92%).
Structure of requests according to type of insurance: Most of the requests and information on non-compliances registered in class A10 – compulsory motor civil liability insurance (RCA and Green Card), with 17,346 requests and information on non-compliance (95.78% of the total), increasing by 141 , 79% compared to the number of requests registered in this promotion in the first half of 2019.
After analyzing the requests registered in ASF, in the first half of 2020, from the point of view of the companies with the highest number of requests, the following was found:
- The insurance company with the highest number of requests and non-compliance information analyzed in a unique way in the first half of 2020 is Euroins Romania Asigurare Reasigurare SA, with 11,225 requests and non-compliance information (61.98% of the total), increasing by 199 , 57% compared to the first half of 2019;
- City Insurance SA registered 5,129 petitions and non-compliance information analyzed in a unique way in the first half of 2020 (28.32% of the total), increasing by 139% compared to the first half of 2019;
- With the exception of the insurance companies Asirom VIG SA and Uniqa Asigurări SA, which registered a decrease in the number of petitions and non-compliance information, the other insurance companies analyzed registered increases.
The full report can be read HERE
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