The Financial Supervisory Authority (ASF) on Friday evening adopted the first RCA price reduction measure aimed exclusively at hauliers: the recommended premium for trucks over 16 tons in class B0 (without fines and bonuses) will not exceed 9,000 lei. Prime Minister Cholaku claims that this is an acceptable price, lower than the price in surrounding countries, and promises to pay in installments and suspend the policy until the car is driven longer.
In the context of farmers’ and transporters’ protests, which are still ongoing, the ASF made its first decision on Friday after discussions with transporters and RCA insurers, members of the Bureau of Motor Insurers (BAAR).
Recommended RCA premium for trucks over 16 tons in class B0 will not exceed 9,000 lei
The ASF says it has approved a request from the Bureau of Motor Insurers (BAAR) to approve a new formula for calculating the recommended premium for certain high-risk policyholders, i.e. individuals and companies owning trucks over 16 tonnes and belonging to class B0.
- “With this new BAAR formula, the maximum value of the recommended premium will not exceed 9,000 lei in class B0. The new calculation formula will be applied within two working days after the approval of the ASF, during the period when the provisions of HG No. 1326/2023 are in force, with subsequent amendments and additions (non-HG, which for another 3 months of RCA prices at the values of February 2023, adjusted from a maximum increase of 6.8%)”, says the ASF decision.
RCA base rate for trucks over 16 tons is 8,609 lei
Recommended premium is the RCA price that BAAR sets in a high-risk insurance procedure when the insured proves to it that it has received at least 3 RCA offers from insurers with prices 36% higher than the RCA base rate.
Reference rate at RCA this is not the selling price practiced by insurance companies, but only an estimate, calculated for class B0 and for a period of 12 months based on historical data for the last 5 years before the reference date.
Trucks over 16 tons they currently have a RCA reference rate of 8,609 lei.
Under the procedure, BAAR allocates high-risk policyholders evenly across all insurers that issued RCA policies in the year in which the request is made.
Cholaku: It will be a stable price, lower than the countries around us / Prime Minister also promises to pay in installments and suspend the RCA policy
Prime Minister Marcel Čolaku welcomed the ASF’s decision, stressing that two more agreed measures will apply to all insured persons: payment in installments and the possibility of suspending the contract while the car is not in use.
- “The new calculation formula will force the maximum value of the recommended premium not to exceed 9,000 lei in class B0, i.e. very close to the base rate. It will be a stable price, lower than the countries around us, including for small carriers with 2-3 trucks that do not have the capabilities of companies with a large fleet.
- In addition, it will be allowed to pay the RCA in installments, as well as the ability to suspend the policy while the vehicle is parked for a certain period for various reasons,” Prime Minister Marcel Čolaku said on Facebook.
It is updated
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.