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International

Hungarian central bank fines insurers

July 07, 2015 Reprints

Hungary's central bank has fined insurers Groupama Garancia Biztosito Zrt. and K&H Biztosito Zrt. 100 million Hungarian forints ($352,933) and HUF 200 million ($705,866), respectively, Budapest Business Journal reported.

The bank has fined these insurers for unlawful rejection of writing third party insurance contracts for trailers.

The central bank said that it had directed both insurers to always accept such coverage.

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Hungarian central bank fines insurers

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