insurers
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CSA: Rising number of cases where premiums collected by brokers no longer reach insurers
Brokers are complaining insurance companies are imposing them abusive clauses in intermediation contracts and are often refusing to pay them the owed fees, but the Insurance Supervision Commission (CSA) maintains the situations where brokers "forget" to transf...
Insurers keeping an eye on frauds: Nine companies connected to a 1.3 million claim database
Canadian-held Greengrass Group, which developed a database with auto insurance claims, has come to hold information on 1.3 billion claims filed with nine insurance companies and is preparing...
Insurers expect two-digit decline and possibly bankruptcies
The general insurance segment is likely to shrink by as much as 15% this year on the falling premiums cashed in from car policies, after a single digit decline in 2010, which may prove to be...
Insurers have come to pay hundreds of thousand euros for personal injury claims
Personal injury payments in the wake of car accidents have registered exponential growth in recent years, with insurers getting to settle claims as high as hundreds of thousands of euros, wh...
Insurers' turnovers down 4% to 1.5bn euros in the first nine months
Insurance companies in the first nine months of this year posted gross underwritten premiums worth 6.3bn RON (1.5bn euros), down 5% in RON from the similar period of last year, according to...
Top ten insurers made 1,400 employees redundant in a year
The ten largest insurance companies reduced their headcount by 1,400 people during 2009, namely 10% of the total, in a bid to bring down costs amid turnover declines.
Insurers pay 10m euros to settle claims in the wake of floods
Insurers pay 10m euros to settle claims in the wake of floods
Insurers expect claims of above 5m euros as a result of floods
Insurance companies expect to settle claims of above five million euros in the wake of the floods that ravaged the north of the country, judging after the claims reserves they have set up so...
Insurers: VAT increase, the heaviest blow
The decision to raise VAT by 5% is a heavy blow for insurers, whose costs will soar, in the context where they are just VAT payers, unable to recover the tax as their tariffs do not include...