ACCORDING TO THE NORM OF THE FINANCIAL SURVEILLANCE AUTHORITY NO. 15/2015, BEGINNING WITH 2016 IT WILL BE POSSIBLE TO CONCLUDE INSURANCE CONTRACTS ON-LINE. IN THIS WAY, ELECTRONIC WAYS OF COMMERCIALIZING CONTRACTS SHALL BE USED, BEING APPLICATIONS ON-LINE OR APPLICATIONS INSTALLED ON THE MOBILE PHONES, DEVELOPED BY EACH INSURER.

The legal dispositions allow the following entities to implement electronic means of commercializing insurance contracts:
  1. insurance companies authorized by the Financial Surveillance Authority directly or through insurance agents;
  2. insurance brokers authorized by the Financial Surveillance Authority;
  3. insurance companies in the European Union states developing the activity in Romania according to the right of establishing and to the freedom of performing services;
  4. subordinated intermediary agents;
  5. intermediaries in the insurances authorized in the states of European Union developing the activity in Romania on the grounds of the rights of establishment and of freedom of performing services.

Published in the Romanian Official Journal n0 641 of the 24th of August 2015
The Act has entered into force on the 24h of August 2015
Issuer: Financial Surveillance Authority