Investigation into auto insurance market

The Competition Council has initiated a sectoral investigation on the car insurance market aimed at analyzing the operational mechanisms in this field and identifying and adjusting possible irregularities of a competitive nature. The scope of the inquiry is to analyze civil liability insurance policies for car owners (RCAs) and optional insurance policies (CASCOs) and interactions between them, as well as the collaboration between insurers and the car service business. “Our goal is to carefully analyze the insurance market, since it is one of the key areas of our national economy and plays a crucial role in risk management. A deeper understanding of the field will also be useful in justifying our position with regard to legislative amendment proposals, and it will ensure a quicker response concerning potential transactions on this market,” Bogdan Chiritoiu, President of the Competition Council, stated. As part of the investigation, the Competition Council can request information, documents, or statements from all economic agents involved. In the first 11 months of 2013, RCA and CASCO policies accounted for 65.11 percent of all general insurance subscriptions, which have gone up by 0.97 percent to RON 5.93 billion.

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