Regulatory Alerts2026-03-10 | 12/4Added · Updated
Decision No. 12/4 of 10 March 2026 regarding the preliminary application by SA "ACORD GRUP" SA for the annulment of CNPF Decision No. 3/3 of 20 January 2026
The National Financial Market Commission (CNPF) issued Decision No. 12/4 to reject the preliminary application submitted by SA "ACORD GRUP" SA seeking the annulment of its prior Decision No. 3/3, which had found the insurer guilty of violating consumer protection and insurance laws. The CNPF upheld its findings that the insurer engaged in incorrect and aggressive commercial practices by unlawfully terminating the mandatory third-party liability insurance contract of an individual policyholder. The Commission concluded that the insurer exceeded its discretionary rights by attempting to shift the contractual subject to a legal entity and using contract termination as a coercive measure to demand additional premiums.
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