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ASF fines two insurers for late compensation payments

Romania’s financial supervisory authority (ASF) fined local insurers City Insurance and Euroins with RON 50,000 (EUR 11,000) each for delaying the damage assessment in car accidents, which also led to delays in compensation payments to the injured parties. The two insurers control some 70% of the market of third-party car liability insurance (RCA). At the end of August, AutoCar, a local group consisting of three companies ...

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