Consumers who used the SAL-Fin obtained a total of RON 1 million in 2023

Bucharest, 7 March 2024 – SAL-Fin (the Financial Supervisory Authority’s Non-bank Alternative Dispute Resolution Entity) concluded 411 disputes between consumers and non-bank financial market entities in 2023.

SAL-Fin registered 923 conciliation requests last year, of which 472 were accepted as the legal eligibility conditions were met. Statistical analysis of this data shows that for 81% of the requests submitted for resolution, consumers chose the procedure for imposing a remedy and for 98% of the conciliations they opted for online settlement.

The two alternative dispute resolution procedures are:

• The proposed resolution procedure, with an average duration of 30 days, involves the resolution of a dispute under the supervision and guidance of a SAL-Fin conciliator, which arises as a result of proposals made by the conciliator, suggestions and concessions agreed by the parties to settle the dispute within SAL-Fin. During the reporting period, a total of 78 disputes were resolved through this type of procedure.
• The procedure for alternative dispute resolution by imposition of a solution, with an average duration of 57 days, entails the delivery of a judgment imposing a solution, which, if not appealed within 15 calendar days from the date of communication, is enforceable. During the reference period, 333 disputes were resolved by this type of procedure.

The resolutions adopted in the proceedings conducted in 2023 by SAL-Fin, regardless of the settlement method, were accepted by the parties in a proportion of about 93%. 

Consumer claims taken up for analysis by SAL-Fin during 2023 concerned the insurance sector, with around 80% of the total relating to the MTPL market, around 13% to general insurance and 4% to voluntary CASCO insurance.

In 2023, the highest amount obtained in excess of the insurer's initial offer by a consumer who used the conciliation procedures offered by SAL-Fin was RON 373,450, representing compensation for personal injury and the countervalue of the medical assessment report.

Significant amounts were also received in other cases handled by SAL-Fin. For example, in one dispute, an additional amount of RON 157,490 was received, representing the difference in compensation and penalties related to the damage file opened with an insurer and lack of use.

In total, in 2023, consumers received in addition to the insurers’ initial offers an amount of about RON 1 million, which proves once again the usefulness of this entity for consumers.

The examination of disputes subject to SAL-Fin is free of charge and is carried out by independent and impartial conciliators registered in the Register of Conciliators. It is made up of individuals with professional training and experience in both the non-bank financial markets and alternative dispute resolution.

SAL-Fin is the only alternative dispute resolution entity that organises and administers SAL procedures in the areas in which ASF has competence and is the only national member of the European FIN-NET network. The development of the SAL-Fin capacity supports both consumers by increasing the capacity to process cases and traders by providing them with an efficient way of resolving potential disputes with customers.

More details about SAL-Fin’s activity can be found here