Asitrans: RCA will go up by 25% in 2008

Publish date: 08-11-2007
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Insurance prices for RCA (civil liability for cars) will go up by an average 25% at market level, in 2008, an increase that will be felt from December this year, given that most drivers close such policies in the last month of the previous year, declared Bogdan Stan, General Manager of the Asitrans insurance company.

"We must expect significant increases in RCA tariffs for next year, at the level of all the companies in the market. The tariff increase will be around 25%, as a market average for 2008, but it will be felt from the very December", said Stan.

One month ago, the Insurance Supervisory Commission (CSA) put insurance companies on their guard, regarding the need to increase the price of the civil liability for cars for next year, taking into account that the responsibility limit will grow by 50% from 2008.
At the same time, the CSA mentioned the necessity to modify premium tariffs, taking into consideration the increased number of road events taking place outside the borders of Romania, which have an average of claims for compensation three-four times more than in Romania.

Asitrans representatives say the company came to the help of the drivers by a double action. Thus, Asitrans has the RCA tariffs fixed for two years, from the end of 2006, but the company says it does not know if they are to be maintained by the end of next year, but at least in the first part of the year. "If at the end of 2006 we were above the half, as tariff, now we will find ourselves below this half", said Stan.

The General Manager of the company also says that, given the imminent increase in RCA tariffs at the level of the whole market and, implicitly, the burden of having to pay the premium in full. Asitrans introduced the sale of RCA in instalments for natural persons. Thus, The RCA policies valid for one year may be paid in four instalments, and those valid for six months may be paid in two instalments.

The premiums subscribed by Asitrans Asigurari in the first nine months of the year amounted to 66.62 million lei, up by 34% against the similar period of 2006, Stan announced. In the period January-September, the amount of compensations grew by 89%, to 27 million lei.

At the same time, the premiums intermediated by brokers represented 36% of the total Asitrans subscriptions, much above the market average, according to data from the company.

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