ASF Decision

DECISION

Art. 1. It is hereby ordered the withdrawal of the operation authorization of CERTASIG – Asigurare si Reasigurare S.A., with registered office in Bucharest, Sector 1, Str. Nicolae Caramfil, no.61 B, registered with the Trade Register Office under no. J40 / 9518 / 11.07.2003, Unique Registration Code 12408250, registered in the Register of Insurers under no. RA-021 of 10.04.2003, according to the provisions of art. 110 par. (1) lit. d) and of paragraph (2) – thesis I of Law no.237 / 2015 on the authorization and supervision of insurance and reinsurance activity,  with subsequent amendments.

Art. 2. – It is herby ascertained the status of insolvency of CERTASIG – Asigurare si Reasigurare S.A. as defined by art.5 para. (1) point 31 letter a) Law no. 85/2014 regarding insolvency prevention and insolvency procedures, as subsequently amended and supplemented, and it is ordered that the Financial Supervisory Authority starts the opening of the bankruptcy procedure against the company, according to the provisions of art. 249 of the mentioned law.

Art.3 – (1) CERTASIG CERTASIG – Asigurare si Reasigurare S.A. will make all the necessary steps to notify the insured persons, both regarding their possibility of terminate the insurance contracts concluded with the insurer, as well as of their right to recover the insurance premiums, paid for the contracts, on a pro rata basis calculated for the period between the time of termination and the expiration of the term of validity of the contracts.

(2) Any person who invokes a claim against CERTASIG – Asigurare si Reasigurare S.A., after the occurance of risks covered  by a valid insurance policy, between the date of withdrawl of the  operationg licence  and the date of  termination  of the  insurance contracts, shall be able to request  the opeeing of a claim file with the Insurer.

(3) Within 30 days from the date the decision regarding the opening of the bankruptcy procedure against the insurer remains final,  CERTASIG – Asigurare si Reasigurare S.A. in under the obligation to hand over the complete records of their claim files, of the technical and accounting records of these files, to the Insurance Guarantee Fund, in order to publish the list of potentials creditors of insurance.

Art. 4. The responsibility for fulfilling the obligations referred to in art.3 falls with the Insurer’s management, according to the provisions of art. 25 paragraph (1) of Law no.237 / 2015 on the authorization and supervision of the insurance and reinsurance activity, with subsequent modifications and completions.

Art. 5. (1) Against this decision, CERTASIG – Asigurare si Reasigurare S.A.  can file an appeal with the Bucharest Court of Appeal, within 30 days from the date of communication of the decision, according to art. 165 para. (1) of Law 237/2015 on the authorization and supervision of the insurance and reinsurance activity, with subsequent amendments.

(2) The appeal submitted to the Bucharest Court of Appeal does not suspend, during its trial, the execution of the measures, as per the provisions of art. 165 para. (2) of Law no. 237/2015 regarding the authorization and supervision of the insurance and reinsurance activity, with subsequent modifications and completions.

Art 6. This decision enters into force on the date of communication and it is published in the Official Gazette of Romania, Part I, in accordance with the provisions of art.163 a1 (14) of Law no. 237/2015 regarding the authorization and supervision of the insurance and reinsurance activity, as subsequently amended and supplemented.

 

For the PRESIDENT,

First vice-president

ELENA DOINA DASCALU

Signature

Stamp

Issued at Bucharest

Date 20.02.2020

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