Location: Southeastern Europe, bordering the Black Sea, between Bulgaria and Ukraine
Climate: temperate; cold, cloudy winters with frequent snow and fog; sunny summers with frequent showers and thunderstorms
Natural hazards: earthquakes, most severe in south and southwest; geologic structure and climate promote landslides
Currency: Leu (RON) Currency conversions were calculed for an average exchange rate of: RON 4.4446/EUR - in 2014 RON 4.4190/EUR - in 2013 RON 4.4560/EUR - in 2012 RON 4.2379/EUR - in 2011 RON 4.2099/EUR - in 2010
"We have to change the way we think and we have to see the good things that the health insurance market can offer. It is a market with a two-digit growth and, for at least 5-6 years, we'll have a similar dynamic. Therefore, the client must be in the centre of attention. He/she is the starting point and, year by year, we have to improve the product portfolio", stated, during the Health&Life Insurance Conference, Dan DOBRE, Commercial Manager, SIGNAL IDUNA.
"The Romanian market needs private health insurance. The bad news is that people have been accustomed with the idea that medical services are either free or paid by someone else", stated Cristian SAS, ANIMA's CEO and the President of the Patients College, present at FIAR 2017, at the Health&Life Insurance Conference.
In the following period, new changes regarding the European insurance legislation are expected. "Regarding IDD - Insurance Distribution Directive, in Germany we have made progress as far as the implementation process is concerned and we expect the IDD specific legislation to be enforced by this summer, taking into account the fact that we have elections coming up this autumn", Lenka de MAURO, Deputy Head of Office GDV - German Insurance Association - European Office, explained during the Insurance Market Trends Conference at FIAR 2017.
"In relation to other European markets the CEE markets are relatively small and diversified. Having said this in my opinion the principle of proportionality has to play an even more important role than in other markets. Being small often means that your voice is not heard in an adequate way which could result in a high risk of unintended consequences. Meaning that on EU level issues might have a neglectable size but have huge consequences on a small market. This brings me automatically to the question of the influence of the CEE region on the EU legislative process", said Michael BRANDSTETTER, EU & International Affairs, VVO - Austrian Insurance Association.
Entered into force on 23 February 2016 (with implementation period starting on February 23, 2018), the IDD "repeals the IMD and is also a minimum harmonisation Directive, hence allowing to take into consideration each market specificities. The IDD seeks to improve regulation in the retail insurance market and to create more opportunities for cross-border business, to establish the conditions necessary for fair competition between distributors of insurance products, and to strengthen consumer protection", said Juan - Ramon PLA, Secretary General, BIPAR, Managing Director, Corporation de Mediadores de Seguros, Spain, Member of IRSG, EIOPA, at FIAR 2017.
"In the last years, there's no recording of a significant growth of premiums on the CEE market and the penetration rates have dropped. From where we stand, this move is tied to the modern insurance market's challenges", stated Jure KIMOVEC, FIG Analyst, Standard & Poor's, at FIAR 2017.
Re/Insurance professionals from all over the world, representatives of
European authorities and national insurance organizations, specialists
representing brokerage companies, lawyer firms, and many more companies
from related domains gathered at Poiana Brasov in
Romania at the 20th edition of FIAR - The International
Taking place between May 21 and May 25, in a new location - Poiana Brasov in Romania - the 20th edition of the International Insurance-Reinsurance Forum - FIAR gathers well-known specialists representing over 125 international companies and offers its participants the chance to join specialized conferences and workshops analyzing the latest trends in the insurance, reinsurance and brokerage fields, as well to participate at networking events and bilateral meetings which will enable them to discover new business opportunities and to gather valuable insights and experience.