The Insurances' Supervision Commission's Council (CSA, in Romanian) has adopted this decision on July 21st, with retroactive effect from July 1st.
Last year, the rate of contribution for the operating tax was 0,5% and the rate of contribution related to compulsory vehicle insurance - 1,25%. This means that the costs incurred by the insurance companies and insurance brokers in the second half of this year are 40% and 20% lower respectively
"It is the second time in six months when we reduce these costs. The measure was taken to support the efforts of insurers to reduce costs based on the economic and financial crisis and help maintain stability on the Romanian insurance market," said Angela Toncescu, president of ISC.











