Initially, Grawe’s actual entry on the RCA market was envisaged for the month of October.
On August 31, 2016, Grawe Romania was licensed by the Financial Supervisory Authority (ASF) to sell RCA and voluntary car insurance (Casco) policies. The company had submitted the licensing request at the end of 2015.
Grawe representatives said the company had obtained the license to sell RCA and CASCO policies on September 1 and was planning to sell the first policies at the beginning of October. Throughout the one-month interval, during which time the company was supposed to go through some mandatory stages, prices for RCA insurance policies in Romania were capped, therefore, the company needed time to adapt its computer systems and processes. Consequently, the company decided to launch the actual sale of insurance policies until the end of November 2016.
At first, Grawe will sell insurance policies only through its own agents, while the development of its distribution network and the inclusion of sales through brokers will be made in stages. The insurer wants to complete the extension of sales through agents, countrywide, by the end of 2016.
The maximum RCA tariffs calculated by ASF currently are under public debate and will be subsequently adopted by the government and published in the Official Journal. The new tariffs will become effective ten days from being published in the Official Journal.