LAW OF THE REPUBLIC OF MOLDOVA

of April 26, 2012 No. 94

About change, amendment and recognition voided some legal acts

The Parliament adopts this organic law.

Art. I. - In the Insurance law No. 407-XVI of December 21, 2006 (Official monitor of the Republic of Moldova, 2007, No. 47-49, of the Art. 213), with subsequent changes, to make the following changes and additions:

1. In Article 1:

state the concept "actuary" of the following edition:

"the actuary - the physical person specialized in area of assessment of financial risks by actuarial methods (statistical, mathematical and economic), having the qualification certificate issued by supervision body;";

after the concept "significant shareholder" to add Article with concept of the following content:

"the agent банкашуранс - the commercial bank, savings and loan association or the microfinancial organization based on the order of the insurer having the right to sign insurance contracts with the third parties from name and at the expense of the insurer in accordance with the terms specified in the agreement of the order signed with it;";

to add the concept "insurance agent" after the word of "overcautious person" with words ", the agent банкашуранс";

in concept "insurer" shall be replaced with words the word "concluded" "which concluded or for benefit of which it is concluded";

in the concept "insurer (overcautious person)" of the word "has the right to perform insurance (reinsurance) activity;" shall be replaced with words "has the license for implementation of insurance (reinsurance) activity;";

after the concept "assistant to the broker" to add Article with concept of the following content:

"ассистанс - the rendering by the insurer (overcautious person) or other legal entities within personal insurance of assistance to the insurer (beneficiary) in case of approach of insurance risk consisting in the organization of provision to the insurer (beneficiary) of technical, medical, financial, legal services;";

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