MTPL prices could be capped for 6 months


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The Financial Supervisory Authority (ASF) and the Competition Council sent a  to the Government to cap MTPL (the motor third party vehicle liability insurance) prices for 6 months on Friday by Vasile Ștefănescu.

Following the analysis of the evolution of the MTPL market and the impact of speculative trends on consumers, the Board of the Financial Supervisory Authority decided to submit to the Ministry of Finance a proposal for a Government Decision on limiting MTPL tariffs to reference tariffs. For the protection of consumers and for the stability of the markets it supervises, the Authority makes use of all the legislative and regulatory resources at its disposal, together with the Romanian Government and other state authorities. We believe that the Government will take into account as soon as possible the proposal submitted, precisely in order to protect the population against inflationary or speculative tendencies“, said Nicu Marcu, the president of ASF, on Friday.

Several transport employer trade unions on Friday called for the urgent adoption of a decision to cap MTPL tariffs, as happened in 2017, otherwise they would threaten to protest throughout the country.

Also on Friday, another transport federation demanded a sharp rise in fuel prices and a doubling of MTPL tariffs in the last six months, also threatening protests if the government did not take urgent action.

The president of the Confederation of Carriers (COTAR), told that the proposal aims “to support all the over 8.5 million Romanians who pay RCA policies”.

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