Stopping the Extension of Car Insurance Price Caps
Solution:
Step 1: EU-Level Advocacy
– Engaged with the European Commission, highlighting the risk of infringement proceedings.
Step 2: Domestic Stakeholder Engagement
– Held 40+ meetings with MPs, Government, Financial Supervisory Authority, and Competition Council.
– Organized a debate in the Parliament with 40+ stakeholders.
Step 3: Media Relations
– Generated 100+ media appearances, explaining the risks of long-term price caps.
Results:
- The cap was NOT extended, saving insurers from financial losses.
- A new MTPL law was passed, incorporating industry recommendations.
- Romania avoided EU infringement proceedings, keeping its market aligned with European regulations.
- Client: UNSAR (Insurers’ Association)
- Year: 2016-2017
- Challenge: Following mass protests by transport companies, the Romanian government capped car insurance (MTPL) premiums in 2016 for six months. Insurers feared the cap would be extended, destabilizing the market.