THE DEFENSE OF CONSUMER INTERESTS, DUE TO THE F.S.A. DECISION NO. 1148/17.09.2021
The Romanian insurance market is an extremely complex area of legal regulation, which involves not only compliance with the principle of fair competition between professional competitors, competitors on the market, but especially compliance with high standards of consumer protection, which are clear...
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| Format: | Article |
| Language: | English |
| Published: |
Nicolae Titulescu University Publishing House
2022-06-01
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| Series: | Challenges of the Knowledge Society |
| Subjects: | |
| Online Access: | http://cks.univnt.ro/download/cks_2022_articles%252F3_CKS_2022_PUBLIC_LAW%252FCKS_2022_PUBLIC_LAW_039.pdf |
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| Summary: | The Romanian insurance market is an extremely complex area of legal regulation, which involves not only compliance with the principle of fair competition between professional competitors, competitors on the market, but especially compliance with high standards of consumer protection, which are clearly inferior , from a financial, informational and organizational point of view, compared to the compulsory civil insurance policyholders. From this perspective, the withdrawal of the operating license and the initiation of bankruptcy proceedings against the Insurance-Reinsurance Company City Insurance - S.A. raises a number of major problems for the customers of this insurer, not only in terms of the contractual relations established by the insurance contract, but especially by the procedural way of action by these consumers, so that the protection of their rights is full, and that the effects of the opening of bankruptcy proceedings against City Insurance be mitigated, as far as possible, in relation to the already precarious situation of these clients. Through this study, we intend to highlight a series of stringent legal issues and to propose a series of answers to legal, substantial or procedural issues arising from the withdrawal of the authorization of this important player on the Romanian insurance market. Thus, those entitled to recover the expenses occasioned by the repair of the cars involved in road accidents caused by the clients of City Insurance - S.A. have the way open to a special and expedited procedure for recovering such damages, without waiting for the opening of bankruptcy proceedings against this insurer and registration in the credal mass, extremely laborious legal proceedings and time-consuming, which raises problems for consumers who are victims of traffic accidents, but also for the clients of the insurance company, which could be involved in legal actions meant to lead to the compensation of those injured in road accidents and which could endanger their personal patrimony, although they appear as contracting parties and beneficiaries of MTPL insurance policies perfectly valid on the date of causing the damage. |
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| ISSN: | 2068-7796 |