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Meeting with the Romanian Motor Insurers’ Bureau

Meeting with the Romanian Motor Insurers’ Bureau. Bucharest 19 th August 2004 Ulf Lemor. The 4 th motor insurance directive - preconditions. 1. 2. 3. Romania’s accession to the EU. Adhesion to section III of the Internal Regulation. The functioning of the Guarantee Funds. 2.

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Meeting with the Romanian Motor Insurers’ Bureau

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  1. Meeting with the Romanian Motor Insurers’ Bureau Bucharest 19th August 2004 Ulf Lemor

  2. The 4th motor insurance directive - preconditions 1. 2. 3. Romania’s accession to the EU Adhesion to section III of the Internal Regulation The functioning of the Guarantee Funds 2

  3. Current developments of motor insurance in Europe 4th Motor Insurance Directive Normal case: 1st step: The victim asks the information centre in his home country for information on the responsible insurer 2nd step: the victim asks the claims representative in his home country to settle the claim; the claim should be settled respecting certain procedures and delays Exception: 3rd step: If not, the victim can address himself to the compensation body in his home country who will then settle the claim 3

  4. Provides the victim / his lawyer with information on: name and address of the responsible insurer number of insurance policy name and address of the claims representative in the country of residence of the victim and, if victim has a legitimate interest on name and address of vehicle owner the usual driver or the registered keeper of the vehicle. Information Centre 4

  5. Intervenes at request of the victim in the following situations: Compensation body • no reasoned reply within 3-months delay • no claims representative nominated • no identification of vehicle • no identification of insurer within 2 months • after accident 5

  6. Situations causing problems: Reasoned reply  criteria? 2-months delay for action: What kind of action? Right of the insurer after the 2 months? Delay for settlement? Obligation for consultation? Legal action against the compensation body? Compensation body 6

  7. Is it possible to collect a special premium for the issue of Green Cards? Every TPL-insurer would be entitled to issue Green Cards even if he is not a member of the national Bureau Merger of the national TPL with the Green Card System Possible disadvantages (I) 7

  8. If an uninsured vehicle causes an accident abroad, the Bureau has to compensate the victim with a very few chances to get the money back. In addition the Bureau has to compensate according to the minimum sums of the country of the accident which are normally higher. Merger of the national TPL with the Green Card System Possible disadvantages (II) 8

  9. If the TPL and the Green Card System are merged, it has to be secured that the Bureau has sufficient financial resources. In case of an uninsured rate of 40% – 60 % the policy holder have to pay for the damages which are caused by 40 % uninsured drivers. All TPL-insurer in Romania must contribute to the financing of the Bureau. The calculation of the premium has to take into account that the Bureau disposes of sufficient financial resources to compensate all national and international claims Merger of the national TPL with the Green Card System Possible solution 9

  10. Legal background The idea of a guarantee fund 1959 Strasbourg Agreement 1983 2nd motor insurance directive • Mandatory foundation of guarantee funds on European level • compensation for material / personal damage • in case of vehicles are illegally uninsured / cannot be • identified 10

  11. payment must not depend on victim proving the unsuccessful claim of the liable person Advancement of the Guarantee Fund 1990 3rd motor insurance directive • in case of dispute over the competence of the insurer, the guarantee fund regulates the damage for the person concerned 11

  12. A registered private law association Accessible to all insurance companies which offer motor third party liability in Germany Voluntary membership all German insurers affiliated German Guarantee Fund Form of organisation 12

  13. German Guarantee Fund Funding • The costs are allocated to all market participants. • Allocation in accordance with the respective market share. • Contributions have to be computed on the previous year’s figures. • If necessary a renewed apportionment can be made / a surplus could be disbursed. 13

  14. all physical persons are entitled to claim only damages caused by a motor vehicle / trailer no compensation from a third source (e.g. the comprehensive insurer) Limitation after three years from date of knowledge if the involved car cannot be traced, exclusion of the claims for vehicle damage Conditions and scope of compensation in Germany 14

  15. not foreseen by the European legislation cover provided in: Germany, Belgium, UK, France, Italy, Switzerland… no cover provided in: Sweden, Denmark, Finland, Greece, Spain… agreement between insurers: cover for cross-border accidents Cover in case of insolvency 15

  16. Separated system: German, Switzerland, France, Italy, Spain, Portugal, Greece, Denmark, Sweden, Finland Integrated system: UK, Ireland, Belgium Possible conflict of interest Guarantee funds are supervised by the state whereas the Green Card System normally not Risk of misuse of the respective funds for the other association’s purpose Separated or integrated system? 16

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