​One of the reasons drivers have been slow to report their RCA policies to Euroins is that it takes a long time to recover the premium difference for the period not covered, and figures released on Tuesday by the Insurance Fund (FGA) confirm this. . So far, the FGA has paid out less than 15% of Euroins policyholder claims.

Only 15% of premium return requests are approved. Payments of almost 1 million euros

The Policyholders’ Guarantee Fund (FGA) announced on Tuesday that it had registered 55,115 Schedule 9 premium refund requests from Euroins creditors until 31 August 2023.

Of these, by the end of August 2023, the FGA had approved 8,164 premium refund requests under the Fund’s Special Commission, which is less than 15% of the total number of requests submitted by Euroins policyholders.

The amount approved for payment on the mentioned premium refund requests is approx. 4.98 million lei.

Award refund requests are sent to the FGA after the RCA policy has been communicated to Euroins

The Guarantee Fund notes that the number of premium refund requests addressed to the FGA may differ from the number of policy rejections addressed to the insurer.

This is because premium refund requests addressed to FGA are sent after cancellation of insurance policies, as the insurer sends cancellation information addresses to applicants.

Thus, the process of denunciation of insurance policies has a different development period, compared to the process of receiving and registering requests for premium reimbursement, in the FGA.

The last day of validity of general insurance policies issued by Euroins is December 7. Warranty insurance expires on February 5, 2024

After the Government extended the Euroins policies by 3 months, the FGA announced the terms for all the bankrupt company’s insurances, not just RCA’s.

• “Thus, insurance contracts drawn up by Euroins Asigurare-Reasigurare remain valid in accordance with the law until December 7, 2023 for general insurance, and according to February 5, 2024 – for warranty insurance (class 15). In the period remaining until the specified date, the policies cover the specified risks in accordance with the insurance contracts,” the FGA said.

We remind you that Romanians have not only RCA insurance at Euroins, but also warranty, home insurance, breakdown or health insurance.

​There are 1.6 million drivers with valid RCA policies at Euroins, but Romanians also have 700,000 health insurances and around 200,000 home insurances with the bankrupt insurance company, Alina Popa, group coordinator of CITR, the judicial liquidator, said on Monday manages the bankruptcy case. Euroins.

How to cancel a Euroins policy

In the event that you wish to cancel your insurance policies, you can do so up to and including December 7, 2023 for general insurance, and until February 5, 2024 for warranty insurance.

Policies are notified to the insurer that issued the policy, Euroins SA, by means of a request sent to Email address: [email protected]

How to return the premium difference

Only policyholders who do not have claims approved in their insurance policies (no claims have been opened under their policies) can claim a refund of the premium difference.

The amount to be paid is a premium that the debtor insurer is obliged to pay for the period during which the risk was not covered by it as a result of the termination of the insurance contracts.

The difference in the premium will be refunded to the FGA on the basis of the Request for refund of the premium – Annex 9, available online on the FGA website at the special portal: https://portal.fgaromania.ro

If you are claiming a premium refund, before 7 December 2023, the date Euroins insurance policies (excluding warranty policies) legally cease to apply, you must cancel the Euroins insurance policy before submitting your payment request to the FGA. , the 20-day notice period will apply to the effective date of termination.

Only after canceling the policy can you submit a Payment Request to the FGA for a refund of the premium.

After 7 December 2023 (the last date of validity of non-guaranteed policies) – Euroins policyholders will be able to apply directly to the FGA with a refund request – schedule 9 to request a refund of the difference in premiums for the remaining uncovered period.

Practically, since all policies will expire by law on December 7, 2023, there is no longer a need to report/provide a policy report to the insurer and it will be sent directly to the Fund within the statutory deadline.

In their case, in the “sum of the sum”, the insurance creditors either calculate the difference in the premium to be reimbursed themselves, or specify the text “as calculated by the FGA”.

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