The new MTPL rules came into force
 The Insurance Supervisory Commission issued the new rules on Mandatory MTPL insurance for damages caused by vehicle accidents, which were published in the Official Journal of Romania, Part I, no. 812, of Friday, November 27.
Among the main amendments to the normative act brings into force starting with January 1st, 2010, there is the bonus-malus system. The system will contain 14 bonus classes and 8 malus classes, the B0 class being attributed to drivers with no insurance history. The reduction or the increase will have as a reference period the previous year of insurance and it will be applied to the notified tariffs used by the insurance company.
Insurers will check the claims rate of the insured by querying the CEDAM database or, when this query is not possible for technical reasons, this may be done based on a declaration of the client, on his own behalf.
Also, the MTPL policies will be issued electronically since January 1 of the following year. Regarding the maximum level of the commission received by brokers selling MTPL policies, it will remain in effect, at 15% ,until July 1, 2010, when it could be rectified. However, there was no distinction made between the level of commission granted to insurance brokers and the one granted to agents.
For material damage as a result of accidents in 2010, the minimum limit of indemnity will be EUR 500,000, while in 2011, it will be EUR 750,000. For claims granted for physical injury and death, the claims limits were set at EUR 2.5 million for 2010 and EUR 3.5 million for 2011.
Click here for the new MTPL Rules!
Author: Mihai CRACEA
on 27.11.2009
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