Budapest, 14 September 2015 – Policyholders of the Romanian Astra Insurance Company will have the possibility to end their contracts by mutual agreement by signing and returning the agreement sent via post from the branch office in the following days. The method for settling third-party liability insurance contract (TPL) claims faster without technical difficulties directly in Hungarian will be stated by the MNB this week.
The Astra branch office has informed the Magyar Nemzeti Bank (MNB) that in the following days the Romanian Societatea Comerciala de Asigurare-Reasigurare Astra S.A. Insurance Company (Astra Insurance Company) will send a letter to all Hungarian policyholders about the possibility of ending their contracts by mutual agreement. The materials will contain an agreement signed by Astra Branch office, dated 30 September 2015, terminating the currently valid insurance contract by mutual agreement.
If the policyholder agrees, he or she should sign the agreement and return it via post or as a scanned attachment of an e-mail to one of the contacts indicated by the Astra branch office in the letter as soon as possible. The mutual agreement enters into force if the document signed by the policyholder is received by Astra Branch office before 30 September.
Policyholders can claim reimbursement of fees that have been paid with no services by the Romanian Astra Insurance Company from the Romanian Insurance Guarantee Fund (FGA) operating in conjunction with the Romanian Supervisory Authority.
In the case of TPL insurance termination, termination of the contract by mutual agreement needs to be aligned with contracting another insurance company entering into force on 1 October 215, otherwise the policyholder must pay a high uninsured fee for the uninsured period. With termination of a contract by mutual agreement, policyholders with non-life insurance have the possibility to sign a new contract with another insurance company even if those contract periods have not expired yet.
Based on the consultations in the recent past, the MNB, which is representing Hungarian policyholders, will inform the public this week about how to settle third-party liability Astra insurance contract claims faster without technical difficulties directly in Hungarian. The MNB constantly publishes information on the compensation of the policyholders of the Romanian Astra Insurance company on its website under Astra link (http://www.mnb.hu/fogyasztovedelem/vezeto-hirek).
According to information from the Astra branch office, they are no longer able to settle or accept claims. Customers can still obtain information from the customer service and call centres of the Astra branch office via the normal channels (www.astrabiztosito.hu).
Magyar Nemzeti Bank