Average compensation paid by FPVS in Q1 doubled compared to December 2009
 If in 2009 the average compensation paid by FPVS - Street Victims Protection Fund was RON 10,437, in the first quarter of this year it has doubled compared with the level of last December, to RON 20,455, and has increased more than twice compared to the one registered in the correspondent period of 2009, of RON 9,500. Also, the Fund has budgeted RON 7 million for compensation for the year 2010, given that the total volume of paid claims in 2009 was RON 3.17 million, for a total of 304 people, according to statements made by General Director of FPVS, Sorin GRECEANU, in a seminar organized recently by UNSAR.
Doubling the average paid compensation came in the context in which some processes have reached maturity with the final enforcement orders, and the Fund has implemented them, GRECEANU added.
Under the circumstances in which, in the CEDAM database, 80% of the 5.2 million vehicles appear as insured, the situation of the number of claims of the uninsured persons compared to the total number of claims from the MTPL insurance industry is pretty good, the percentage being less than 1%, according to FPVS.
The financial available funds of FPVS amount in the present to EUR 25 million (RON 103 million), money coming from the Fund members, represented by insurance companies authorized to issue MTPL policies in Romania. The share amount paid to the Fund by insurers from the total cashed MTPL premiums was reduced by ISC, in December 2009, to 0.3%, from 0.5%.
FPVS is a professional association whose members are all the insurers who have the right to conclude MTPL insurance on the Romanian territory, and that pays compensations for the persons that have suffered predjudice as a result of accidents in which there were involved uninsured or unidentified vehicles.
Author: Andreea IONETE
on 02.07.2010
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