The insurance policy, whose validity may be extended, will include voluntary insurance CASCO services for civil planes and plane parts, as well as civil liability insurance, according to the auction participation announcement available on www.tarom.ro.
The announcement mentions nothing about the insured sum or the estimated value of the insurance premium.
In the previous years, the insurance premium paid by Tarom stood at around $4 million and the insured sum exceeded $500 million for the CASCO policy and $700 million for the civil liability insurance policy.
Bidders will pay an auction participation guarantee of $10,000, or this sum’s equivalent in lei.
The contract awarding criteria considers the lowest price, reads the announcement.
Tarom’s current insurance policy was issued by Astra Asigurari, leader on the local insurance market regarding premiums underwritten in 2010.
Tarom’s fleet includes 23 airplanes: one Airbus 310-325, four Airbus 318-111, four Boeing 737-300, four Boeing 737-700, one Boeing 737-800, seven ATR 42-500 and two ATR 72-500.
The Romanian life and general insurance market shrank 6.4% in 2010, to 8.31 billion lei (EUR1.9 billion).
The general insurance segment, which also includes air transport insurance policies, dropped 8.3%, to RON6.64 billion.
In 2010,the aircraft insurance segment fell 4.4% to RON20.33 million (indemnities on this segment stood at RON6.6 million, down 87.7% compared to 2009), and the civil liability insurance segment declined 32.6% to RON16.3 million (indemnities rose to RON29.39 million from RON526,627). (EUR1=RON4.3602)