MUTUAL INSURANCE COMPANY - A NEW COMPANY FORM REGULATED BY ROMANIAN LAW AND ITS POSSIBLE INTERACTIONS WITH PUBLIC ADMINISTRATION

Abstract

For many decades, mutual insurance companies have been very present in developed countries, in various areas of activity, often interfering with public administration or with various public institutions. For example, mutual insurance companies can manage mandatory health insurance schemes or provide supplementary insurance for sickness and old age or alternatives to national insurance schemes. In Romania, mutual insurance companies did not benefit from such regulation, although in other less developed countries they could operate at least as voluntary organizations with the role of raising funds and managing financial loans to cover various risks. Very recently was promulgated in Romania Law no. 71/2019 on mutual insurance companies. These societies will undoubtedly be present in social life and many of them will specialize in activities that interfere with those of public institutions and authorities, so a study of this new type of society can be a benefit for everybody.

Keywords

• mutual insurance company
• mutualism
• insurance fund
• public administration