Brokers are complaining insurance companies are imposing themabusive clauses in intermediation contracts and are often refusingto pay them the owed fees, but the Insurance Supervision Commission(CSA) maintains the situations where brokers "forget" to transferthe money collected in from clients to insurers are rising.
Insurance brokers last year handled gross premiums worth 3.2bnlei (some 760m euros), down 0.5% from 2009, according to CSA data.Premiums brokered by insurance brokers accounted for around 38% ininsurers' turnovers, up 2% year-on-year, while the overallinsurance market contracted by 5.7% in 2010 and reached grosspremiums worth 8.36bn lei (2bn euros).
"CSA has monitored brokers' activity very closely and the actionhad as a result suspension of operations or licence withdrawals,"Toncescu specified.
The commission penalised around 20 brokers in the past fivemonths alone. However, 530 insurance brokers operate on the market,mostly small ones, and the top 100 have a cumulated market share of83%.
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