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History

 

Decision no. 354/05.06.1964 on measures to be taken to increase the income of the tourism activity, published in the Official Gazette no. 26/06.06.1964, provided at item 6 the following: “ The State Insurance Administration is authorized to join the “Green Card” System of the Motor Insurers` Bureau with the head office in London”.

The understanding of the Romanian legislator was that the Motor Insurers` Bureau with the head office in London actually was the Council of Bureaux having the headquarter in London.

After the publishing of this Decision The State Insurance Administration started the necessary formalities to become a member of the Council of Bureaux.

On the 21st October, 1965, at the General Assembly of the Council of Bureaux that took place in London, the President stated that “The State Insurance Administration was admitted as a member”.

On the 26th May, 1985, the General Assembly of the Council of Bureaux decided to nominate the State Insurance Administration (in its capacity of National Bureau of Romania) for the Standing Working Committee of this International body, together with Belgium, Sweden, Switzerland, Turkey and Yugoslavia.

Article 4 of Decision no. 1279/08.12.1990 on the set up of joint stock insurance companies, published in the Official Gazette no. 145/17.12.1990 provides the following:
“At the date the joint stock insurance companies will be established the State Insurance Administration cease its activity.

The assets and liabilities of the State Insurance Administration shall be taken over by the established joint stock companies as follows:

a) “Asigurarea Românească S.A” company …..
b) “Astra S.A’ company ….
c) “Carom S.A “ agency shall take over the activity in respect of loss adjusting, assessment and settlement of claims arising from accidents caused by insureds of foreign insurance undertakings in Romania and claims arising from accidents caused abroad by Romanian motorists insured by Romanian insurance undertakings.”

Although there were no specific legal regulations, in fact the function of a National Bureau was taken over by Carom S.A. until the publication of Law 47/16.07.1991 on set up, organization and operation of the insurance companies, published in the Official Gazette no. 151/19.07.1991.

Article 24 of the Law 47/1991 stipulates that “ the insurance companies and the insurance-reinsurance companies that transact motor insurance shall set up the Motor Insures` s Bureau to represent them in the domestic and international relationship. The Motor Insures ` s Bureau shall fulfill the tasks resulting from international agreements regarding the third party liability insurance in respect of the losses caused by motor accidents and supervise the compliance of these companies with their obligations according to the provisions of such agreements”
This was the first legal regulation in respect of the Romanian Motor Insurers` s Bureau.
In order to comply with the above mentioned provision on the 15th November, 1994 took place the General Assembly of the insurance undertakings that transacted motor insurance and it was agreed to set up the Romanian Motor Insurers` s Bureau (B.A.A.R)
The founding companies were the following: Anglo Romana, Arinco, ASIROM, Asit, Asitrans, Astra, Carom, Crest, Dacia-Felix, Generala, Metropol, Mondragon, Romanoasig, Unita.
B.A.A.R filed the application no. 2/S/1995 to be registered in the register of the Bucharest Court and obtained the status of a legal person.

By Decision no. 17/19.06.1995, Section III civil of the Bucharest Court agreed with the application of the association “Romanian Motor Insurers` s Bureau” (B.A.A.R.) and decided its registration in the Special register of the Bucharest Court. The Decision was published in the Official Gazette, part IV, no. 2732/11/10.1995

 

 
 
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