Considerations regarding the authorization and supervision of the insurance and reinsurance activity in Romania from the perspective of the new powers granted to the Financial Supervisory Authority Cover Image

Considerații privind autorizarea și supravegherea activității de asigurare și reasigurare din România din perspectiva noilor competențe acordate Autorității de Supraveghere Financiară
Considerations regarding the authorization and supervision of the insurance and reinsurance activity in Romania from the perspective of the new powers granted to the Financial Supervisory Authority

Author(s): Raluca Dinu
Subject(s): Civil Law, Law on Economics, EU-Legislation, Commercial Law, Labour and Social Security Law
Published by: Consiliul Legislativ al României
Keywords: nsurance/reinsurance; compulsory insurance; civil liability; recovery measures; insolvency

Summary/Abstract: At the same time, in accordance with Directive (EU) 2021/2118 of the European Parliament and of the Council of 24 November 2021 amending Directive 2009/103/EC relating to insurance against civil liability in respect of the use of motor vehicles, and the enforcement of the obligation to insure against such liability, member states must establish, authorize or designate a body having the role of making payments to third parties prejudiced by compulsory insurance of vehicles against civil liability, in case of insolvency or liquidation for any reason of the insurer that issued the compulsory insurance of vehicles against civil liability contract, body to negotiate the conclusion of agreements with similar bodies in other member states.

  • Issue Year: 1/2024
  • Issue No: 4
  • Page Range: 28-37
  • Page Count: 10
  • Language: Romanian
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