life insurance

Romanian insurance companies and brokers will provide their prospective clients with additional information before signing them up for a life insurance policy, as of Wednesday, according to new rules issued by regulator CSA.

Romanian providers of life insurance will be required, starting with September 2011, to evaluate the position and financial needs of future clients, using a questionnaire, and recommend solutions to match, says an order by insurance regulator CSA.

Employees of the Romanian Defense Ministry who will see combat action are to be insured for EUR80,000, according to a ministry announcement regarding an auction to select the insurer, posted on www.e-licitatie.ro.

Dutch group Aegon invested EUR20 million in its Romanian operations and will continue to invest depending on the evolution of the local insurance and private pension markets and the stability of the country’s legislation, said Tuesday Gabor Kepecs, the group’s general manager for CEE.