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Romanian RCA Car Insurance Policies To Be Issued Electronically Only Starting 2010

Mandatory civil liability car insurance policies (RCA) will be issued electronically only as of January 1, 2010, Angela Toncescu, head of the Romanian insurance regulator CSA, said Wednesday.
Romanian RCA Car Insurance Policies To Be Issued Electronically Only Starting 2010
18 nov. 2009, 11:39, English

„We think this will lead to fewer instances of human error in filling out RCA policies and increased database accuracy,” Toncescu said.

She added that talks with insurers established they are ready to issue RCA policies electronically.

„This market is operated by large players, with foreign shareholders, who have understood they should invest in IT equipment to manage the issuance of RCA policies,” she added.

In 2008, RCA car policies totaled 1.84 billion lei (EUR1=RON4.2928) and accounted for 26.09% of the general insurance market. General insurance reached RON7.07 billion last year and romania’s car park includes more than 4 million units.