More than 830,000 drivers still have their cars insured by RCA with bankrupt insurer Euroins, but the policies will only be valid until Thursday, December 7, so they should buy new ones to drive normally. To recover part of the cost of their car insurance, which automatically expires on December 8, they have to file a claim with the Policyholder Guarantee Fund, but they will have to wait months before they receive the money.

CITR: 836,448 RCA policies issued by Euroins will remain valid on 7 December

Of the more than 2 million RCA policies valid on the opening date of Euroins bankruptcy proceedings on June 9, 2023, 836,448 car insurances will remain in force on December 7, the last day of validity of these car insurances, officials of CITR, the judicial liquidator of Euroins, told HotNews.ro .

All these drivers must take out another RCA insurance no later than tomorrow, which will be effective from December 8.

According to the law, the responsibility of the RCA insurer begins on the day following the expiration date of the previous RCA contract, for the insured who fulfills his obligation to conclude the insurance contract no later than the last day of its validity. or from the day following the day of concluding the RCA contract, for persons who did not have valid RCA insurance at the time of concluding the new insurance.

What you can do to get back part of the cost of Euroins insurance

Drivers who want a refund of the difference in their RCA premium for the period that would have applied after 7 December if Euroins had not gone bankrupt must apply for a refund of the premium to the Policyholders’ Guarantee Fund (FGA).

Requests for premium refunds can be submitted online at the special portal: https://portal.fgaromania.ro, in which case the registration number of the request will be received automatically.

In the case of insurance policies that have been subject to legal termination, it is no longer necessary to notify the insurer of the termination.

How many refund requests have RCA Euroins policyholders made and how difficult is it for them to get their money back from the FGA

The Insurers’ Guarantee Fund told HotNews.ro that “until November 30, 2023, the FGA registered 77,762 requests for refunds of premiums. By the end of November 2023, the FGA had resolved 9,378 premium refund requests with a cost paid of approx. 5.8 million lei”.

The status of premium refund applications can be checked online and data shows that many are pending as of March 20, 2023.

• “All payment requests are resolved in the order received by the Fund, without the possibility of speeding up/prioritization of requests, at the request of the applicants. Requests are analyzed by the Fund within a reasonable, optimal and predictable period that allows the Fund to follow all administrative operations established by the legal framework, avoiding unjustified delays, taking into account the order in which payment requests are received by the FGA.
• The FGA has reviewed its internal procedures and implemented a new IT system which enables faster registration and processing of applications/files. We expect that the newly implemented changes will improve settlement times,” FGA representatives told HotNews.ro.

As a reminder, at the end of August this year, the Government extended the validity period of RCA Euroins policies by 3 months, all these car insurances automatically expire on December 8. By this time, all Euroins policyholders are required to take out new insurance policies.

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