Press release – 11th of April 2016

FGA approved for payment claim files amounting to 14.160.679 LEI

Bucharest, 11th of April 2016 – Until 8th of April 2016, the Policyholders Guarantee Fund (FGA) approved 3645 claim files in the Special Commission (CS), for a total amount of payment of 14.160.679 LEI. Currently, other 2347 claim files are about to be sent by the specialized offices of the FGA to the Special Commission, for approval. Moreover, additional documents for the completion of another 2446 claim files were the requested from potential insurance creditors of Astra Asigurari by experts within the FGA.
In the same period, FGA rejected in the Special Commission, which has the main attribution of approving or, as appropriate, rejecting claim files, pursuant to art. 13 para. (4) of Law no. 213/2015, a number of 24 claim files, with a sum rejected from payment amounting to 59.350,1 LEI. The decisions for the rejection of sums were based, mainly, on:
– technical aspects;
– the fact that, during the handling of the claim files, it was ascertained that, based on the declaration of the claimant, there was a missmatch between the occured damages and the notified damages;
– the fact that the payment request was submitted by persons that do not meet the requirements provided by law for the category of insurance creditors.
Until 8th of April 2016, FGA received 28.555 payments requests, relating to both claim files taken over from Astra Asigurari and claim files opened by the Fund.
The Policyholders Guarantee Fund recommends all creditors that submitted payment requests and received notifications requesting the completion of the supporting documentation to promptly undertake the necessary measures, as claim files that are complete benefit from faster payment of indemnity.
As a reminder for potential insurance creditors of Astra Asigurari, pursuant of art. 266 para. (2) of Law no. 85/2014, FGA is entitled to make payments from its available assets to insurance creditors only after the decision for opening the bankruptcy proceedings remains final and binding and only to claimants that submitted payment requests and have claim files that are complete. The payment of compensation shall be effected within a guarantee threshold of 450.000 LEI per each creditor.

About FGA
Policyholders Guarantee Fund was established as a legal person of public law in compliance with Law no. 213/2015 regarding the Policyholders Guarantee Fund.
The Fund is an insurance guarantee scheme and has the purpose of protecting insurance creditors
against the consequences of an insurer’s insolvency.

For further details,
Communication Department:

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