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Reference rates for RCA policies


Bucharest, 1 November 2018 - The Financial Supervisory Authority (ASF) publishes the reference rates for compulsory auto insurance policies (RCA), in accordance with the provisions of Law no. 132/2017 and Rule no. 22/2017 on the methodology for their calculation.

The reference rate have been calculated, according to the legal provisions, by an independent company - Ernst & Young Assurance Services SRL - depending on: the categories of vehicles (cars, freight transport motor vehicles, passenger transport vehicles, etc.), the type of insured (legal/natural person), the age of the insured for individuals and the technical features of the vehicles (cylinder capacity or power, maximum mass allowed, number of seats).

The relative change of the reference risk premium compared to the previous reference rate is not consistent for all categories of vehicles, existing both decreases and increases in value.

Changes in the estimated reference rates for each risk segment are mainly driven by the evolution of the loss during the reference periods taken into account in the two calculation exercises.

The weighted average reference rate, based on the number of exposures per each segment for individuals, is 790 lei, in increase with 4% compared to the previous calculation exercise, and for legal entities it is 1.660 lei, decreasing by 5% compared to the one recorded during the previous calculation exercise.

The publication of reference rates is an approach that leads to increased transparency, to information and transmission to consumers of some accurate and complete information on RCA policies. Reference rates do not represent fees for which RCA policies are concluded on the market.

The reference rates for each category of vehicle and insured can be examined here ( only in Romanian).