9th Meeting of the South-East European Group
National Bureaux
The experience accumulated by the Romanian Bureau
following the bankruptcy of two of its members in 2002
Mariana GARBAN - B.A.A.R.
The experience accumulated by the Romanian Bureau
following the bankruptcy of Grup AS and Metropol
2000 – 2002
difficult situation for the Romanian Bureau
Grup AS and Metropol
incapacity of payment
banckruptcy
B.A.A.R.= 10 members
The experience accumulatedContent
by the Romanian Bureau
following the bankruptcy of Grup AS and Metropol
The main cause of the bankruptcy:
selling Green Card at very small tariffs
(for ex.: 6-8$ / 15 days / car)
Contentby the Romanian Bureau
The experience accumulated
following the bankruptcy of Grup AS and Metropol
Measures taken by B.A.A.R.:
1. imposing a plan to bring the situation back to normal
2. the suspension of quality of members + withdrawal the
authorization to practice Green Card (15.11.2001)
The experience accumulated by the Romanian Bureau
following the bankruptcy of Grup AS and Metropol
3. The establishment of the Green Card Common Fund
- initial contribution = 225.000 Euro/company regardless of
the financial power
- monthly contribution = a maximum of 6% from the cashed
gross premium for Green Card
Contentby the Romanian Bureau
The experience accumulated
following the bankruptcy of Grup AS and Metropol
Lack of claim files = A major problem
Grup AS and Metropol refused to collaborate
with our Bureau.
Comprehension from the National Bureaux
The experience accumulated
Contentby the Romanian Bureau
following the bankruptcy of Grup AS and Metropol
4. Reimbursement protocols were signed and
fulfilled with the Bureaux from
Italy, Greece, Germany, Hungary
Contentby the Romanian Bureau
The experience accumulated
following the bankruptcy of Grup AS and Metropol
Outstanding debts of Grup AS + Metropol = 2 mil. Euro
(15.11.2001)
Contentby the Romanian Bureau
The experience accumulated
following the bankruptcy of Grup AS and Metropol
Payments in the period 2002 - 2008
1.352 claim files in value of 5.009.546 Euros
Contentby the Romanian Bureau
The experience accumulated
following the bankruptcy of Grup AS and Metropol
Total
Grup AS
File no.
Amount
Euros
File no.
Metropol
Amount
Euros
File no.
Amount
Euros
2002
467
2.114.337
248
1.030.322
219
1.084.010
2003
671
1.871.426
317
548.669
354
1.322.757
2004
109
545.963
63
259.970
46
285.993
2005
40
173.301
22
38.485
18
134.816
2006
29
147.829
13
73.625
16
74.204
2007
26
144.744
12
10.102
14
134.642
2008
10
11.951
7
7.205
3
4.746
The experience accumulated by the Romanian Bureau
following the bankruptcy of Grup AS and Metropol
Current claim reserve = 1.500.000 Euro
Contentby the Romanian Bureau
The experience accumulated
following the bankruptcy of Grup AS and Metropol
The re-organization of B.A.A.R.:
collecting necessary documentation (visits to the
Bureaux from Belgium, Czech Republic, Germany,
Italy, Hungary and correspondence with other
Bureaux);
elaboration and approval of the new Constitution;
the elaboration and approval of the chart of B.A.A.R.;
the internal organization (change of location, hiring,
elaboration of the internal regulations, etc.);
Contentby the Romanian Bureau
The experience accumulated
following the bankruptcy of Grup AS and Metropol
General Assembly
Auditor
Management Committee
Secretary General
Assistant Manager
Manager
Claims Notification Dept.
False Green Cards- MA Uninsured Dept.
Claims Handling Dept.
Frontier Insurance Dept
Manager
Accounting
Administrative
Manager
Legal Dept.
Mariana GARBAN – B.A.A.R.
The experience accumulated by the Romanian Bureau
following the bankruptcy of Grup AS and Metropol
Thank you for your attention!