Former Insurance Watchdog Chief To Run Guarantee Fund
Nicolae Crisan, former president of insurance watchdog CSA, was appointed general manager of the Guarantee Fund, a CSA department that protects insurance beneficiaries in case of insurer bankurptcy.
Crisan was a president of the CSA between 2001 and 2006, after which he moved to the Guarantee Fund Department.
Romania is one of 12 European states to set up general schemes for insurance guarantee. Other such states include France, Germany, Bulgaria, Poland.
Starting December 1, the CSA reduced its specialized department numbers to 12 from 28, while staff numbers were narrowed by 10%.
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