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CASCO policy, rated second amongst Romanians’ options, was contracted at their own initiative by almost three quarters of the drivers, while more than a quarter of the CASCO policy holders have contracted it following to a leasing contract or to a car credit. ”60.6% of those interviewed own a car, while 54.9% of them have signed a contract for CASCO optional car insurance,“ according to L`cr`mioara Laura Voinea, manager of Mednet company.
She says that most of this policy holders are men, from 34 to 47 years of age, married, having one or two children. Also, they own a first university degree and work in a private company. Mednet selected this year 30 respondents who took part at a study conducted in 2009. Last year, Romania recorded the most unprofitable insurance segment in Central and Eastern Europe, due to losses caused by CASCO and RCA, said Cristian Constantinescu, president of the National Association of Insurance and Reinsurance from Romania (UNSAR).
”Loss-making business classes are CASCO and RCA, which have been registering extremely high combined damage rates. Profitability margins for individual class, for accidents or for property (goods and buildings) class were drastically reduced, due to the temptation to increase the portfolio’s volume formed by these types of insurance intended to balance as much as possible the losses in the car insurance field,“ said Constantinescu.
