Astra branch office: information on compensation published by the Romanian Insurance Guarantee Fund

Budapest, 4 September 2015 – Information on the compensation of the Astra policyholders has been published by the Romanian Insurance Guarantee Fund. According to this information, all policyholders of the Astra branch office will be compensated by the Romanian Insurance Guarantee Fund according to the Romanian legislation in force. The MNB is currently consulting on the submission procedure so that Hungarian policyholders have no difficulties as well.

The Romanian Insurance Guarantee Fund (FGA) officially published the rules of the compensation procedure in regard to Romanian Societatea Comerciala de Asigurare-Reasigurare Astra S.A Insurance Company. All policyholders will be fully compensated by the Romanian Insurance Guarantee Fund up to EUR 100,000, which is more than HUF 30 million per claim, according to the Romanian legislation in force.

According to the official Romanian information, claims should be submitted directly to the Romanian Insurance Guarantee Fund or agencies assigned by the Insurance Fund, attaching the compensation claim form and the necessary documents.

The Magyar Nemzeti Bank representing the Hungarian policyholders is currently consulting to decide the assignee and for the Hungarian policyholders to have the possibility to settle their claims faster, simpler and without technical difficulties directly in Hungarian. Consultations are also underway on how Hungarian policyholders should submit their claims and who is entitled to evaluate the damages.