The value of gross subscribed premiums for CASCO insurance dropped 6% last year, and that of RCA premiums (ed. note. - Civil Auto Liability) increased 23%, but the value of damage payments increased significantly for both types of policies, the leader of the Insurance Surveillance Commission (CSA) yesterday said, in a seminar focusing on the insurance market. In 2009, the auto insurance premiums reached 5.6 billion lei, or 76% of the total gross premiums subscribed in the general insurance sectors and 63% of the total insurance sector.
According to data presented by Constantin Buzoianu, the vice-president of the Insurance Surveillance Commission, in 2009, the gross premiums subscribed for CASCO insurance policies dropped to 3.32 billion lei, whereas the gross subscribed premiums for the RCA segment increased to 2.15 billion, from 1.74 billion lei in 2008.
The number of payments increased 7% last year, to 371,342, and the volume of claims paid-out increased 29% for the RCA segment - 1.53 billion lei - and 18% for CASCO - 2.88 billion lei. The average value of the claims paid out increased 21%, from 3,703 lei in 2008, to 4,486 lei in 2009.
According to CSA officials, in 2009 6.1 million insurance policies were concluded, with 85% of Romanian vehicles being insured.
* The average insurance premium - less than 100 Euros
In Romania, the average insurance premium is less than 100 Euros, far below the numbers in other European countries, said Liviu Stoicescu, the chairman of the Romanian Vehicle Insurers" Office. According to him, a Slovenian driver pays on average 194 Euros to insure his vehicle, 280 Euros in the Czech Republic, and 380 Euros in Slovakia. The numbers mentioned by Mr. Stoicescu are relatively close to those practiced in Romania, and he said that prices will have to keep pace with those of other countries: "If we look at t
