Capital& Alliance accuses Allianz Ţiriac Asigurări of failing to record the payment of insurance policies worth EUR 500,000

Tradus de Cosmin Ghidoveanu
Ziarul BURSA #English Section / 7 iulie 2009

Ş.C.

Insurance broker "Capital&Alliance" accuses "Allianz Ţiriac" of not recording several policies worth EUR 500,000, thus harming 1,500 customers who have been paying their insurance premiums for the last four years, according to a press release received from officials of "Capital&Alliance".

"Allianz Ţiriac cashed all this money without recording it in their system", officials of the insurance broker said for our newspaper. They said that the litigation between the two companies began at the end of 2007, when the insurer refused to pay the broker the commissions it owed.

"Last year Allianz agreed to pay part of the amount as part of an amicable agreement, so we met with them, we exchanged evidence, and they in turn agreed to check their accounts", officials of "Capital&Alliance" said.

Officials of "Allianz" claim that the policies were not recorded in their system due to software errors and due to failure to adequately record the revenues in their technical account", the press release states.

The managers of the insurance broker said they filed several bookkeeping vouchers concerning the activity of "Allianz" with the Insurance Surveillance Commission, but the latter gave an evasive reply, saying that "there are no new factors that would lead to a change in the factual and legal status of this case".

Officials of "Allianz Ţiriac" could not be contacted yesterday.

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