Bankruptcy started at Euroins. it is already affecting Romanians who will have the misfortune of being hit on the road by one of the 2.8 million insured with the former RCA leader. Several services that have contracts with this insurer, contacted by HotNews.ro, have started to refuse such repairs, fearing that it will be even more difficult to get their money back than before. However, there are also services that continue to work under Euroins policies.

Euroins partner service: I already have 200,000 lei to return. I don’t want to increase my debt even more!

• “In what society? Euros? We are sorry! As of yesterday, we no longer carry out repairs under Euroins policies. Go to FGA!”, – one of the representatives of the car service in Bucharest told us on Tuesday which is in the list of Euroins partner services.

And this is not the only such case. Many services are now waiting for the Insurance Fund Guarantee Fund (FGA) to receive the records and files from Euroins and start assessing the claims.

• “At Euroins? It is bad. He just gave us 2 billion. I also have money to collect from City Insurance and Euroins. I have to return about 200,000 lei. We have a contract with them, usually we fix it for you and then take it back.
• Until now I was calm that Euroins paid us every 60 days, but now I don’t know. I don’t want to increase my debt even more! I will give you the contact of a friend who has several services and can help you.”, – said another representative of Euroins service partner.

However, it is not too easy to find a service that will undertake the repair and refund the money from FGA.

• “Wait for the FGA to release an estimate of the damage. call me on friday For now we still want to see that the FGA has taken over all the entries from Euroins. We then open a claim, sign a proxy agreement, repair your car and get our money from the FGA.” declared us “the friend with more services in Bucharest”.

• “It’s a pity to hear that you are in Euroins. We have contracts with all insurers, but we decided to stop accepting losses on Euroins. And so we waited 45 days until they gave us money for repairs. We don’t know when we will get our money back. ASF knew about the bankruptcy for six months, but hoped to save them.” another service official said in Bucharest on Tuesday.

Other smaller services that do not have contracts with insurance companies contacted by HotNews.ro explained that they do the repairs themselves – at the expense of the insured.

• “We make an assessment of the damage, an estimate with the necessary equipment and, if you agree, you pay and we make repairs. After that, based on the invoice, you see how you get your money from the insurance company or FGA. We no longer work with insurers. Payments were delayed for more than 30 days, and the money was blocked.” – said another visitor to the car service.

The big service companies still take over the Euroins claims: we take care of everything, you don’t pay a single lei!

Fortunately, the larger services still receive claims on RCA policies.

• “We are still working with them, the verdict has not been passed. Did you do it in a friendly way? You also need a ticket, license, report, insurance from both you and the offender. Bring your car and we’ll take care of everything, while you get your car repaired with us, you don’t pay a single lei.
• We draw a conclusion, report what was found, what needs to be replaced, what needs to be painted. We will call you back when the ordered parts arrive. Until then, the car remains in operation. Who wants to do his own, somewhere else.
• We continue to cooperate with Euroins. At the moment, I have repaired two cars with Euroins. Yesterday, too, a bunch got into Euroins with insurance. At the moment, we are taking care of everything. We take the money either from them or from the FGA, you don’t have to worry about anything else,” a claims consultant for the greater metropolitan service said on Tuesday morning.

More than 1,000 auto repair shops in the country have agreements with Euroins

In late February, before the ASF decided to revoke its operating permit and file for bankruptcy, Euroins officials said they had reached direct settlements with more than 1,000 garages that would allow them to work seamlessly without legal hassles.

• “Regarding car services, 3 years ago we had 50 services with which we had direct settlement agreements. Today, we have more than 1000 services with which we conclude direct settlement agreements and work perfectly, without disputes and court proceedings.
• The company pays its claims on average 5-10 days after the claim is submitted. What does it mean? According to Romanian law, after submitting a claim for compensation, the insurer must provide an offer within 30 days, and if the offer is accepted, payment must be made within a maximum of 10 days.
• According to the law, payment must be made within a maximum of 40 days. Euroins pays in 10 days. This is another answer to the question of whether we should worry about the financial stability of the company.” stated at the end of February Kyrylo Boshov, head of Euroins Insurance Group (EIG).

SEE THE LIST OF SERVICES ON THE EUROINS WEBSITE HERE

• “There will be garages that will want to do these (generally the biggest) repairs, and others will not. If you can’t find it, the only way out is to make repairs at your own expense. The big car dealerships didn’t work with City Insurance or Euroins anyway,” insurance industry experts told HotNews.ro on Tuesday.

HotNews.ro called Opel Rădăcina and the authorized Ford service center in Bucharest on Tuesday, and they confirmed to us that they have not worked with Euroins for many years and do not carry out repairs based on the insurer’s RCA policies.

Euroins: FGA has informed us that they will start processing compensation in 6 months

HotNews.ro also asked Euroins’ point of view on the agreements with car repair shops and what the injured parties should do.

• “According to the ASF’s decision, Euroins Romania is currently under the administration and control of the FGA, which has informed the company that it will start processing compensation in at least six months. On the administration side, all activities are at the disposal of the FGA. Therefore, from now on, any delay in the activities of Euroins Romania must be reported to the FGA.”, This was reported to HotNews.ro on Tuesday by representatives of Euroins.

Asked on Tuesday about the refusal of some services to pay out losses on Euroins policies, Adrian Cachiu, PSD’s finance minister, said: “I want to run the economic activity for which they are authorized.”

What to do if your RCA broke in Euroins and you want to repair the car

If you have not yet opened a claim file with Euroins, the first step you should take if you have suffered an RCA loss with this insurer is to open a claim file with the Policyholders’ Guarantee Fund (FGA).

In this regard, it is necessary to fill out and submit an application for opening a claim case to the Fund (APPENDIX 7 – the form can be filled out directly online).

If you have damaged Euroins, you have 3 options to repair your car:

• 1. you will find a car service that will repair your damaged car at your expense, and you, the victim, ask the FGA to pay compensation to the account of the service that performed the repairs.

In this case, you can instruct the service to represent you or assign the debt, in which case the auto repair shop will become the insurance creditor instead of you. After that, the authorized services go to the FGA for refund, the limit is 500,000 lei under the insurance contract.

• 2. you can repair your damaged car at your own expense at the service, from which you must receive supporting invoices, on the basis of which you can later independently claim payment for the repairs made from FGA.

• 3. before starting the repair, submit an application for payment of compensation directly to the UFG (through the payment application – Appendix 10), in this case, the UFG will calculate in a specialized program and pay you the received amount.

Depending on the chosen decision, you need to submit an application for payment (it is important to submit it as soon as possible, later you can supplement the file with other documents).

Payment for repairs – in the best case, after 60 days

All requests submitted to the FGA are processed on a first-come, first-served basis and payment cannot be made earlier than 60 days from the date of publication in the ASF Official Gazette of the decision to withdraw the Euroins work permit.

In this case, the ASF decision was published in the Official Gazette on Friday, March 17, 2023.

Why after 60 days? Because after the publication of the ASF decision in the Official Gazette, the FGA has 30 days to accept all the records, followed by the analysis and instrumentation of all these files.