Losers, former clients and other creditors of City Insurance, the former leader of RCA, whose bankruptcy was finally resolved in court in April this year, have collected approximately 588.9 million lei by December 14, the Fund for the Guarantee of Insurers (FGA) announced on Monday. ).
- “The policyholders’ guarantee fund approved 62,100 payment claims within the framework of the special commission by December 14, 2022. The payments made by the Fund up to that date to the insurance creditors of Societatăi de Asigurare Reasigurare City Insurance SA thus reached a total of approx. 588.9 million lei.”, the Foundation reported.
The FGA does not say how many payment requests are still under analysis, but based on previously released data, the number is likely to be in the hundreds of thousands.
Thus, earlier the Federal Tax Service reported that “as of August 31, 2022, 248,193 payment claims were registered, of which 40,305 payment claims were approved by the special commission. The corresponding payments amount to approximately 385 million lei.”
By law, once an insurer has been declared bankrupt in court, the FGA can only make payments to those injured parties who have filed claims and have a complete file, as well as compensation. will be within 500,000 lei (100,000 euros) per insurance contract. Injured parties have 90 days to file claims for compensation.
Those who want to withdraw more than the maximum limit of 500,000 lei must register in the credit table at the court.
With 1.15 million RCA policies in force at the end of last year, of which 500,000 were automatically terminated on May 11, 16,305 guarantee policies are still in force today for over 7,000 policyholders, institutions and other entities, and over 10,000 national and International litigation, City Insurance’s bankruptcy is the biggest in Romania’s recent history, CITR, the judicial liquidator of the former RCA leader, said in June 2022.
- Read more: Major insurance bankruptcies: what compensation people have claimed and how much they have collected so far after the collapse of City Insurance, Astra and Carpatica
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Source: Hot News
Mary Robinson is a renowned journalist in the field of Automobile. She currently works as a writer at 247 news reel. With a keen eye for detail and a passion for all things Automotive, Mary’s writing provides readers with in-depth analysis and unique perspectives on the latest developments in the field.