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News in Insurance
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Alico (formerly AIG Life), the third-largest life insurer on the Romanian market, settled 60% higher claims last year than in 2009, when the value stood at 11 million RON (2.6 million euros), according to the company's preliminary financial data. read more...

The salaries of the 460 employees of Generali Asigurări (Generali Insurance), one of the top 10 companies on the Romanian insurance market, are 6% higher than the market average. read more...

Guaranteed life insurance and financial plans for children will be primarily targeted this year by clients seeking saving alternatives, given the continuing economic uncertainties, believes Cornelia Coman, general manager of ING Asigurări, the biggest player on the life insurance market. read more...

Romanians must insure their homes within one year after the first mandatory home insurance policies were issued, namely July 15, 2010, the Interior Ministry said Wednesday. read more...

The nearly 1.5 million drivers who renew their auto liability insurance (RCA) in December-January can get their premiums cut by up to 25% or can pay in instalments. Between 30 and 40% of auto liability insurance policies expire during this period. read more...

The new law on mandatory home insurance, which leaves out of the natural disaster insurance system those owners who bought such insurance on their own, will not significantly affect this programme, considering the number of optional policies is really low as it is, brokers and insurers feel. read more...

Romanian President Traian Basescu signed into law yesterday a bill exempting people who already have home insurance against natural disasters from getting mandatory insurance, newspaper Ziarul Financiar reported Tuesday. read more...

President Traian Băsescu yesterday promulgated the law that no longer requires those owners who already have an optional policy covering damages caused by floods, earthquakes and landslides to buy a mandatory home insurance policy. Insurance companies part of the mandatory insurance system might therefore lose more than 30 million euros in premiums, which jeopardises the operation of the system or may lead to tariff hikes. read more...

The segments that posted declining gross underwritten premiums in the first nine months outnumber the ones that registered growth, so that the overall insurance market shrank by almost 7%. read more...

Personal injury payments in the wake of car accidents have registered exponential growth in recent years, with insurers getting to settle claims as high as hundreds of thousands of euros, which is putting additional upward pressure on auto liability (RCA) policy tariffs. read more...

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