Rule 20/2017 on car insurance in Romania, developed by the Financial Supervision Authority (ASF), will be amended. According to a proposal put up for public debate, it is desired to extend the term in which the RCA contract enters into force from 30 to 60 days, from the moment of conclusion. The motive pursued by the initiators of the measure is to facilitate the conclusion of contracts and to respond to an increased demand for insurance policies on the market.
The current wording in the regulatory act, in force, provides for a maximum of 30 days gap between the moment of concluding the RCA insurance contract and the one in which it takes effect. After the amendment of the rule, this term will be extended to 60 days.
The authority justifies its proposal by showing that, in this way, “it will first of all allow insured persons the possibility of concluding RCA contracts in time, but also RCA insurers to conclude RCA contracts in a sufficiently long term, so that it can be absorbed at the level of market a possible high demand for the conclusion of RCA contracts”.
The law stipulates that car civil liability insurance (RCA) can be concluded at any time, through an insurer authorized by the Insurance Supervisory Commission (CSA). This document is mandatory to drive on public roads and must be paid even if the vehicle is not used.
News brought to RCA policies
Recently, the RCA type car insurance regulations have undergone several changes, which came into force in 2023. The most important news that has appeared in relation to car insurance is the possibility to complete the amicable accident report in electronic format as well.
The amicable accident report form, in the case of RCA insurances. it can also be completed electronically, not just on paper, through an application, Amiabila, developed by the Bureau of Motor Vehicle Insurers in Romania.
Also, the regulation that allowed an RCA policy to be concluded only with validity on the territory of Romania was eliminated. Insurers can no longer issue RCA valabine policies only on the territory of Romania, which allowed drivers to have lower car insurance costs. Therefore, now only RCA policies valid in the territory of several countries can be issued.
2023-07-28 05:01:52
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