We would like to inform you of a recent and important change in Romanian insurance legislation. By Order no.16 of 24 August 2012, the Insurance Supervisory Commission has enforced new "Norms regarding the authorisation and functioning of insurers".

From 1991, by adopting the new Constitution, Romania has begun to consolidate a real market economy based on principles of the state of law guaranteeing the right of property irrespective of the owner. The transition from a centralized to a market economy is a complex process requiring radical changes in all fields of activity, but first of all in the economic field, Romania has made remarkable steps and has succeeded in reaching international and, in particular, European standard.

The number of medical malpractice litigation cases in Romania is growing exponentially. It is a phenomenon that directly involves insurance companies ...

I remember one of my first difficult title reviews as a lawyer in an international law firm. It was the year 2002; Romania had many unclear rules, and many state-owned companies and many properties had been confiscated by the state during communism.