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Events list
ICAR Forum 2006

Romania - Insurance Law

Insurance Dictionary

ASIMM

CNAR 2001
Event details

Florentina ALMAJANU, Director General UNSARThe UNSAR's company members support the idea that the population's protection through insurance can be put into practice only under some conditions. We consider that is absolutely necessary to take into consideration the clear dereferences existing between the insurance pool concept and commercial company.

"Also, the results of technical studies are indispensable to set reinsurance's cost and premiums" Florentina ALMAJANU, General Director of UNSAR, declared during the International Catastrophic Risks Forum that took place in Bucharest at the beginning of October 2006

Click here to download the presentation of Florentina ALMAJANU

 
Romania - Insurance Law

A book named "Romania - Insurance Law" was published in the International Encyclopedia of Law, Insurance Section, with the support of UNSAR, ADAR and BAAR.

The authors (Maria Bugeanu, Mihaela Tudor and Florentina Almajanu) comment the Romanian Insurance Law directly in English language, covering the following matters: organization of the insurance activity, the insurance and reinsurance legal relationships, intermediation in the insurance activity, settling the insurance disputes between the parties of the insurance contracts.

The book gets the foreign reader briefly acquainted with Romania in its geographic space, the language spoken, the economy, the commerce and the insurance market in this country approaching as well the history aspects along with the its developments from the statistical results.

According to the agreement intervened between the General Editor, the authors will keep the book updated with the next new changes and regulations by Internet connections.

Kluwer Law International Publishing House (Hague, London, New York) has a distribution center and may honor any requests by sections at the following addresses:

Kluwer Law International
P.O. Box 85889
2508 CN The Hague, The Netherlands
Tel.: +31 70 308 1560
Fax.:+31 70 308 1515
sales@kli.wkap.nl
http://www.kluwerlaw.com


North, Central and South America
101 Philip Drive
Norwell, MA 02601, USA
Tel.: +1 781 871 6600
Fax.: +1 781 871 6528
kluwerlaw@wkap.com


Libresso Distribution Center
P.O. Box 23, 7400 GA Deventer, The Netherlands
Tel.: +31 570 673 560
Fax.: +31 570 670 898
customerservice@kluwer.nl

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Dictionary - the first insurance dictionary translated in Romania language

"The appearance of this insurance dictionary is welcomed by the insurance market from Romania. We hope that this material appeared at the London prestigious publishing house won't represent an isolated event, but the first step towards a collection of insurance specialized books.The dictionary is recommended both to those working in insurance field, from management to retail, and those directly or indirectly related to insurance. Also, it is useful both for students and other persons interested in finding pieces of information about insurance and reinsurance."

Cristian Constantinescu,
President of National Association of Insurance and Reinsurance Companies from Romania

The insurance dictionary came out under the auspices of National Association of Insurance and Reinsurance Companies from Romania and it is the first this type book translated in Romanian. To be as complex as possible, the Romanian variant also includes the original English variants of all terms and expressions defined.
With all 3500 definitions included, the book covers the majority of insurances polices used (general and life) and a number of terms, though strictly specialized, related to the insurance field.


- Definitions of insurance terms and fundamental terms of insurance field
- The terminology of insurance used in Europe and references to the American terminology
- Important legal cases, used as a start in the evaluation and analysis of the similar damage situations
- The usual insurance terminology, including legal and financial terms
- The presentation of some institutions and professional organizations from Great Britain and other countries

One wants the dictionary to be an useful tool for those interested in this field, so much the better it comes out in a period when the Romanian legislations strives to align to the legislation of European Union.

Unless some companies hadn't understood its utility and hadn't contributed financial to publish it, the dictionary wouldn't have been able to come out. Also, it had the support of National Association of Insurance and Reinsurance Companies from Romania, in all precursory editing phases, including the supervision of its translation.

The dictionary will be available starting with the 10th of July 2002 and will cost 399.990 lei. It can be bought through the private distributors or directly from the TREI Publishing House, phone/fax: 0212245526; e-mail: editura-trei@fx.ro.

On-line order on www.unsar.ro and www.1asig.ro benefit from a 15% discount and all the distribution costs via post are undertaken by TREI Publishing House Call at 0722.464.135 for further information.

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Insurances support Small and Medium Sized Enterprises

A seminar with the theme "Insurances support Small and Medium Sized Enterprises (S.M.E.)" took place on the 5th of July current year, at the International Center of Conferences from The Parliament Palace - Bucharest.

The event happened under the patronage of Ministry of Small and Medium Sized Enterprises and Cooperation and was organized by the National Association of Insurance and Reinsurance Companies from Romania (N.A.I.R.) and by the National Council of Private Small and Medium Sized Enterprises (N.C.P.S.M.E.).

The chosen period for the event was favorable for the debate of important subjects, as the legislation in the S.M.E. field, for the private sector of Romanian’s economy, which includes the majority of small and medium sized enterprises. The approached issues regarded the deductibility of the premiums from perspective of the new law of profit tax, the protection of the patrimony and activities of S.M.E. through insurance and also presentation of the insurance products.

At this event were invited Ministry of Public Finance, members of N.A.I.R., members of N.C.P.S.M.E., members of the National Union of Insurance Brokerage and Consultancy Societies from Romania, insurance companies, insurance brokers, small and medium sized enterprises from Romania, commercial banks, guarantee companies, consulting companies and financial audit, and IT&C companies.
Representatives of Parliament (Comitee for Budget, Finance and Banks) and media participated to this seminar too.

 

The entrepreneurs success in business represents a progress in the development of Romania. In the same time, their losses are implicitly losses of the Romanian economy. That is why, through a favorable legislative framework, the Government supports the undertakers in their action to insure themselves against risks in running a business, in order to diminish associated losses and continue successfully the business

Silvia CIORNEI,
Ministry of Small and Medium Sized Enterprises and Cooperation

 

 

Many risks to which entrepreneurs are exposed can produce significant losses to their budget. Insurers can offer protection against these undesirable situations. So, we can shake hands and settle a profitable partnership for all those involved.

Cristian Constantinescu,
President of National Association of Insurance and Reinsurance Companies from Romania

 

 

 

 

The private entrepreneur by nature and activity is a person who has the courage to assume the risks of a business. The intelligent entrepreneur comprehends that in order to be successful he must appeal to all those that can help him to diminish these risks and insurance companies can offer a concrete possibility to do it. The most important thing is them collaborate as efficiently as possible.

Ovidiu Nicolescu,
President of National Council of Private Small and Medium Sized Enterprises from Romania
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N.C.I.R -The National Conference of Insurers from Romania

Between 28th and 30th of November 2001, at the International Center of Conferences from The Parliament Palace - Bucharest took place the National Conference of Insurers from Romania, organized under the auspices of the National Association of Insurance and Reinsurance Companies from Romania (N.A.I.R.). The conference got together all operators from the Romanian insurance market in order to discuss important issues for the insurance field and also to promote a healthy competitive insurance market.

The period chosen for this conference was favorable for debates of significant issues for the insurance market:
- Insurance Supervisory Commission - annual report of the Romanian insurance market
- Norms for the application of Law no.32/2000
- Legislative modification - requirements for upgrading and aligning to the European Union's Directives
- Mandatory Insurance of Dwellings - necessity or opportunity? Advantages/Disadvantages
- The protection of costumers - the roll of the supervisory authority
- Deductibility of the premiums - advantages/disadvantages
- Introduction of the contribution to create and maintain the National Insurance Fund for Accidents and Professional Diseases
- Improvement of the educational system in the insurance field - Insurance Institute, Professionalism in insurance
- Integrate services concept - actuality and perspectives for Romanian market

During the two days of Conference representatives of the following institutions participated: Insurance Supervisory Commission, National Association of Insurance and Reinsurance Companies from Romania, The National Union of Insurance Brokerage and Consultancy Societies from Romania, insurance companies and insurance brokers. Were also invited representatives of the Government and Commercial Banks (Romanian Banking Association)

The first edition of the National Conference of Insurers from Romania began with a press conference to which representatives of media were invited.

On the occasion of this important event the Catalogue of National Conference of Insurers from Romania 2001 was launched and includes all company participants. It was distributed in blotters of the conference and to all media representatives that took part at the official open, to representatives of Commercial and Industry Chambers, Commercial Offices of Embassies, Organizations of Employers from Industry and Ministeries

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