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The situation of the RCA damage files opened and approved by the insurance companies in the second quarter of 2019

 

Bucharest, November 11, 2019 - The Financial Supervisory Authority (ASF) performed an analysis of the damage files related to the compulsory auto policies (RCA), approved by the insurance companies in the second quarter of 2019.

In carrying out this analysis, the legislative changes in the field of compulsory insurance RCA were taken into account, respectively by the deadlines imposed by the normative acts applicable to the contracts under which the damage files were approved.

In the second quarter of 2019, insurance companies notified 88,174 claims files under compulsory civil liability insurance (RCA) policies, 6.15% less than the first quarter of 2019. The average duration the payment, at the market level, of the damage files, approved for material damages, was 17.13 days / file.

Most of the damage files were notified, in the second quarter of 2019, to Euroins SA, respectively 30,472 files, and to City Insurance SA - 28,013 files.

Three insurance companies accumulated almost 75% of the total number of RCA damage files approved in the second quarter of 2019: Euroins SA (34.56% of the total market), City Insurance SA (31.77%) and Omniasig VIG SA (8.39%). The other insurance companies have percentages below 6%, each of the total number of RCA files approved during this period.

Six insurance companies registered a decrease in the number of damage files approved in the second quarter of 2019, compared to the first quarter of the same year: Asirom VIG SA (-34.56%), Allianz-Țiriac SA (-7.45% ), Omniasig VIG SA (-6.34%), Euroins SA (-4.83%), City Insurance SA (-4.57%) and Uniqa Asigurări SA (-0.81%).

Three insurance companies registered an increase in the number of damage files approved between April and June 2019, compared to the first quarter of 2019. The highest percentage increase was recorded by Grawe Romania SA (+ 30.48%), followed by Generali Romania SA (+ 3.61%) and Groupama SA (+ 0.40%).

From the point of view of the object of the damages claims formulated in the 88,174 files of damage, a number of 76,831 files (87.14%) were approved for material damages, 3,225 files (3.66%) for personal injury / deaths, and 8,118 files (9.20%) represent regress files.

From the way of solving the damage files, as of the date of the reporting to the ASF, it follows that:

  • 51.75% of the total RCA market (45,632 files) are files paid by the insurers up to the date of reporting;
  • 47.41% of the total RCA market (41,807 files) are unfinished files at the reporting date;
  • 0.84% of the total RCA market (735 files) are files rejected by the payment by the insurers.

In the second quarter of 2019, compensation amounts were paid in a total amount of 228,662,139 lei, of which 190,152,075 lei (83.16% of the total) for material damages, 10,940,025 lei (4.78% out of total) for bodily injury and death and 27,570,039 (12.06% of the total) for regress files.

According to the legislation in force, RCA insurers have the obligation to compensate the injured party for the damages suffered as a result of the accident caused by the vehicle insured by a compulsory RCA auto insurance policy, according to the claims made in the claim, proven by any means of proof. Without exceeding the compensation limits stipulated in the RCA insurance contract, under the conditions in which the insured event occurred during the validity period of the RCA insurance policy, the insurers grant monetary damages for:

a) personal injury or death, including for damages without patrimonial character;

b) material damage;

c) damages representing the consequence of the unused use of the damaged vehicle;

d) costs incurred by the injured person.

The analysis regarding the situation of the RCA damage files opened and approved by the insurance companies, in the second quarter of 2019, can be consulted HERE.

 

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About ASF

ASF is the national authority set up in 2013 through OUG 93/2012 approved by Law 113/2013, for the regulation and supervision of insurance markets, private pensions and the capital market. ASF contributes to strengthening the integrated operating framework of the three sectors, which amounts over 10 million participants. More information can be found at www.asfromania.ro.