Irregularities in the way of establishing the RCA level unveiled by ASF. The authority removes the 10 pc discount limit

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The Financial Supervising Authority (ASF) found irregularities in the way of determining the level of the compulsory insurance of civil liability (RCA) by some insurers, and has urged the restoration of calculations in these cases and decided the elimination of the 10% limit for commercial discounts that may be applied by insurance companies.
During the checks operated to the insurers during December, the ASF informs that will analyze the calculation of RCA premiums and, if it founds violations of applicable laws, it reserves the right to notice the Competition Council.
However, ASF decided to remove the 10% ceiling for trade discounts that can be applied to tariffs, so that insurers will be able to practice discounts without restrictions.
“The ASF board has approved the amendment to the Norm no. 23/2014 on the compulsory insurance of civil liability by removing the provision that premium rates can contain trade discounts up to a maximum of 10%,” the release reads.

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