CRISIS EFECTS UPON THE INSURANCE INDUSTRY
CRISIS EFECTS UPON THE INSURANCE INDUSTRY

Summary/Abstract: The crisis was felt most on the financial sector of the economy and the insurance industry, as an integral part, has been negatively affected. The insurance industry in Romania is dependent on consumption, being directly related to the evolution of the main economic sectors. The evolution of the car industry greatly influences the insurance industry, because, in 2009, the insurance related to this area had a 77% share of the general insurance. The main threats to the life insurance market are increasing unemployment and economic instability; as a result, developments of the life insurance market have a slightly downward trend compared to previous years when there were increases between 25% - 30%.

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