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Uniqa fined for unfair commercial practices

Romania’s Financial Supervisory Authority (ASF) ruled a RON 40,000 (EUR 8,400) fine for Uniqa Life Insurance and written warnings for Gothaer and Grawe Romania, for unfair commercial practices found during periodic inspections carried out at the respective insurance companies. ASF fined Uniqa mainly for “deficiencies related to the functionality of the internal control mechanisms established at the company level.” These “deficiencies” resulted in ...

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