According to the statement of the Financial Supervisory Authority (ASF), ten out of five insurance companies, representing 52% of the compulsory insurance market, react with reduction to the problem of the young people– reported Botond Balázs, board member of the Hungarian Youth Council of Romania, which elaborated the awareness-raising campaign and resolution called Fine me for speeding, not for may age!.

„We left behind another successful step as five out of ten insurance companies, namely Allianz-Ţiriac, Astra, City Insurance, Euroins and Generali have already announced that following price reduction, the insurance for young car owners – compared to major categories – will decrease to two and half compared to the five-time price. According to the resolution of ASF, insurance fees must be established uniformly and for one year ahead for the different risk categories, according to the generally accepted calculation formula” – assessed Botond Balázs.

Giving voice to young car owners, the Hungarian Youth Council of Romania launched an awareness-raising campaign on December 10th 2014 with the slogan Fine me for speeding, not for my age! Their aim was to meet young peoples’ need and elaborate a proposal for the reduction of compulsory insurance price by putting forward its role as representative of interests.

Upon launching the campaign, MIÉRT sent the resolution to the Government of Romania, President of Romania, Parliament of Romania, Financial Supervisory Authority, National Council for Combating Discrimination and Competition Council. Following this, on January 12 the organisation presented the decision of the Financial Supervisory Authority according to which they will rethink the system related to the compulsory car insurance for the young people and, analysing the situation in details, by the end of February will try to come up with an acceptable solution for the young drivers.

For the reduction and stabilisation of compulsory car insurance price, in the resolution dated December 2014, the Hungarian Youth Council of Romania requested the following:

to establish clear and transparent rules for the classification into risk categories so that every driver would be immediately informed about the classification concerned;

when establishing the insurance fee, the following criteria should be decisive: existence of previous accident history, previous fine applied and reduction of age-related distinctive rules;

the possibility to define the upper limit of compulsory car insurance prices should be analysed in order to become accessible and affordable also for young people.