The Policyholders’ Guarantee Fund (FGA) warned on Tuesday those with guarantee policies issued by bankrupt insurer Euroins that there are 3,145 such contracts which will end under the law on 5 February. Such policies are usually required by central and local government authorities (ministries, city halls, etc.) of companies participating in tenders as a guarantee that they will perform the contracted work, otherwise the insurer will pay compensation.

Information on the number of guarantee insurances expiring on February 5, 2024 was provided by CITR, the judicial liquidator of Euroins.

What to do for those who have warranty insurance from Euroins

“After February 5, 2024, the last day of validity of the guarantee policies, insurance creditors who have concluded such an insurance contract can apply to the FGA for a return of the premium, Annex 9 to the ASF regulation no. 24/2019 to demand reimbursement of the difference in the premium for the remaining uncovered period,” the Policyholder Guarantee Fund reported on Tuesday.

Requests for the first reimbursement – Appendix 9, can be submitted online, on a special portal: https://portal.fgaromania.ro, in this case the registration number of the request will be received automatically.

Requests for the cancellation of the guarantee insurance issued by Euroins and for the reimbursement of the difference in the premium could be submitted until now, immediately after the revocation of the authorization of this insurer in March last year.

However, figures released on Tuesday by the FGA show more than 3,100 such contracts remain.

FGA cannot pay compensations exceeding 500,000 lei under an insurance contract

The Insurers’ Guarantee Fund (FGA) is a body that pays compensation in the event of the insurer’s bankruptcy within the limit of 500,000 lei under the insurance contract.

FGA reminded on Tuesday that in order to receive compensations / allowances, it is necessary to submit an application for payment to the Fund.

“Payments, accompanied by supporting documents, can be made from the date of revocation of the permit to carry out insurance activities, but no later than 90 days from the date of entry into force of the decision to open bankruptcy proceedings or from the date of the right arising. claim when he was born later, on pain of legal forfeiture,” says the FGA.

Requests/requests for payment can be submitted online, on the dedicated portal: https://portal.fgaromania.ro or sent by post to the address: Strada Vasile Lascăr No. 31, postal code: 020492, sector 2, Bucharest.

Additional documents are sent to the e-mail address: [email protected]

The Fund clarifies that “in order to ensure the principle of fairness in relations with all insurance creditors, it registers and considers requests for premium payment/refund in the order they are received by the Fund, without the possibility of speeding up/prioritizing requests. , at the request of the plaintiffs.

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