On Thursday, December 5, 2024, the Romanian Association of Insurance and Reinsurance Brokers (PRBAR) elected a new Board of Directors during the organization's General Assembly. Viorel VASILE, CEO of Safety Broker, was elected as the new President of PRBAR.

The Assembly also voted on two Vice President positions, filled by Otilia PETRARIU, CEO of Consultant AA Broker, and Sorin BALTASIU, CEO of Transilvania Broker.

Key Priorities of the New Leadership Team:

• Recruitment in the Insurance Distribution Market: Attracting 100,000 new assistants in the next three years through programs aimed at aligning Romania’s insurance market with the SEE average.
• Addressing Distribution Costs: Eliminating the "net premium" concept, as it has proven ineffective since its introduction.
• Opposition to Overregulation: Advocating against excessive regulations, such as the DORA Regulation, citing redundancy with existing norms.
• Education Initiatives: Collaborating with institutions like the Financial Studies Institute, the Ministry of Internal Affairs, and CONAF to develop major financial education projects targeting high schools and universities.
• Boosting the Role of Insurance Brokers: Strengthening the broker's position as a driver of financial education and increasing insurance penetration through product innovation and expanded distribution.
• Transparent Communication: Reinstituting working groups to ensure collaborative decision-making across the industry.
• Industry Collaboration: Enhancing partnerships with key associations like UNSAR and UNSICAR to improve the quality of insurance products.
• Reforming RCA Legislation: Advocating for deep changes in motor third-party liability insurance laws, which have shown limitations.
• Identifying Gaps in Coverage: Exploring new insurance segments to align with European trends as more players enter the market under FoS and FoE regulations.
• Advancing PRBAR's Influence: Promoting member interests at the governmental level to shape regulatory decisions impacting the insurance distribution industry.

The new leadership's vision focuses on innovation, collaboration, and strengthening the insurance sector's role in Romania.