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Liberalization
of compulsory Third Part Liability Insurance
Since the conflict, the tariffs of the Third Party Liability
Insurance policies (TPL) have been determined by the Central
Banking Authority of Kosovo in its capacities of supervisor of
the insurance industry.
After several
years of the expansion of the insurance companies licensed by
the CBAK, the local industry appears to be mature enough to
enter step by step into a phase of controlled liberalization of
TPL Tariffs. Indeed, a controlled liberalization could bring
more competition between insurance companies. It will benefit to
the policy holders, who could be granted not only with better
tariffs, but also with improved quality services namely
regarding the payment of claims.
That is why the CBAK Governing Board, on December 18 2007,
decided to amend the CBAK Rule 3 on Compulsory Third Party
Liability Insurance. This amendment will give to insurance
companies the opportunity to modulate their tariffs under limits
fixed by the CBAK. This will allow insurance companies to be
prepared to further steps of liberalization.
The first step of this controlled liberalization will enter into
force on April 1st 2008
The comprehensive text of the amended Rule 3 is available in
CBAK Website (Legal framework / Rules and regulations/ Insurance
Rules).
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