The current mandatory car insurance (RCA) prices are too high for young people, said Romanian Prime Minister Victor Ponta, adding that a car shouldn't be considered a luxury that only some can afford.

“I support Minister Valcov’s initiative to ask the Financial Supervisory Authority ASF to review the RCA system so as to help young people,” said Ponta, cited by local Mediafax.

Romanian Minister of Finance Darius Valcov has asked the ASF management to review and rethink the RCA insurance system for young people under 25, as most of them can’t afford to pay fees of over RON 2,000 (some EUR 446).

RCA prices for young drivers have strongly increased in the last year, due to regulation changes.

Irina Popescu, irina.popescu@romania-insider.com