The draft act amends RCA insurance regulations enforced through a CSA order in 2011.
Currently, some local insurers sell RCA policies at prices double or triple compared to those of the cheapest insurance policies on the market.
In 2011, underwritten premiums on the RCA segment amounted to about 2 billion lei (EUR0.44 billion) and accounted for one fourth of revenues on the general and life insurance market.
Insurers authorized to sell RCA policies in Romania are ABC Asigurari, Allianz-Tiriac Asigurari, Generali Romania, Asirom, Euroins Romania, Astra, Omniasig, Carpatica Asig, Groupama Asigurari, UNIQA Aigurari and City Insurance. (EUR1=RON4.536)