- Top 10 CASCO claims in 2021 totaled over 5 million lei, mainly road accidents.
- The largest road-accident payout was 500,000 RON.
- CASCO premiums topped 2 billion lei, up 10%, with over 1 million policies.
- Daily CASCO payouts exceeded 1 million euros; RCA payouts around 2 million.
Romania’s CASCO insurance market posted record payouts in 2021, with the top 10 claims together exceeding 5 million lei (approximately 1 million euros). The figures, published by UNSAR, the National Union of Insurance and Reinsurance Companies in Romania, provide a clear view of how the voluntary insurance segment operates in the country.
These numbers also illustrate the scale of payouts and the role of CASCO in protecting vehicle owners against a range of risks.
Distribution of CASCO Payouts by Type of Damage
Analysis of the top 10 payouts paid by insurers in 2021 reveals a diversity of events covered by CASCO policies:
- 6 claims resulted from road accidents
- 3 claims were caused by fires
- 1 claim was caused by floods
This distribution shows that, while road accidents represent the dominant category, CASCO policies provide essential protection against other significant risks as well.
Largest CASCO Payout for a Road Accident
The top payout for road accidents is an impressive 500,000 RON. This figure underscores the importance of CASCO insurance, especially for high-value vehicles or in the case of severe accidents that cause substantial material damage.
The maximum payout of half a million lei demonstrates that Romanian insurance companies are capable of honoring contractual obligations even in the face of very large damages, providing real financial protection for insured individuals.
Evolution of the CASCO Market in Romania
The voluntary CASCO insurance market grew significantly in 2021:
- Total value of premiums collected: over 2 billion lei (about 410 million euros)
- Increase versus the previous year: 10%
- Number of active policies: over 1 million by the end of 2021
These figures indicate a matured auto insurance market in Romania and a growing awareness of the financial protection provided by CASCO policies.
Daily Payouts by Insurers
According to UNSAR data, Romanian insurers paid, on average, each day of 2021:
- Over 1 million euros for CASCO payouts
- 2 million euros for RCA payouts
These impressive sums demonstrate the real volume of financial support the insurance industry provides to vehicle owners in Romania, whether for mandatory or voluntary insurance.
Public Perception vs. Reality of the Insurance Market
UNSAR representatives highlighted a significant gap between public perception and the reality of the insurance market. Although there is a sense that Romanians do not trust insurance companies and do not insure their property, concrete data show a markedly different situation when it comes to transport.
The figure of over 1 million active CASCO policies shows that Romanians understand the value of protection offered by these voluntary insurances and are willing to invest in the financial security of their vehicles.
The Importance of Transparency in the Insurance Sector
UNSAR emphasizes the need for public debates about insurance and the sector’s governance to be grounded in concrete, verifiable data. This fact-based approach is essential for:
- Avoiding the formation of erroneous public opinions
- Increasing trust in the insurance industry
- Creating a stable and transparent business environment
In a period marked by socio-economic instability, the insurance market must convey confidence through transparency and by promptly honoring contractual obligations.
Recommendations for a Responsible Insurance Market
The National Union of Insurance and Reinsurance Companies in Romania, representing 20 companies accounting for 90% of the local market, calls for responsibility in discussions about insurance.
A balanced and informed approach to insurance issues is essential for:
- Consumer protection through informed choices
- Market development on sustainable foundations
- Higher insurance penetration at the national level
- Increased trust in the insurance system
The data presented by UNSAR show that Romania’s insurance industry operates efficiently and provides real financial protection for millions of Romanians, paying substantial payouts daily and honoring its obligations even in the case of high-value damages.