RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of September 7, 2012 No. 36/8

About the instruction of application of basic insurance premium and cost of adjusting factors for internal and external compulsory third party car insurance

For the purpose of execution of provisions of Art. 11 of h. (1) and (2) the Law No. 414-XVI of 22.12.2006. "About obligatory civil liability insurance for the damage caused by vehicles" (The official monitor of the Republic of Moldova, 2007, No. 32-35, of the Art. 112), with subsequent changes and amendments because the aktuarialny methods applied in case of establishment of insurance premiums affirm the National commission on the financial market, considering that the insurance premiums established by the Resolution of the National commission on the financial market No. 53/5 of 31.10.2008 "About establishment of basic insurance premium and cost of adjusting factors for internal and external compulsory third party car insurance" (The official monitor of the Republic of Moldova, 2008, No. 226-229, of the Art. 669), with subsequent changes and amendments, are determined by aktuarialny methods taking into account the frequency of losses and the estimated average loss, and for determination of number and cost of losses according to the policies subject to risks, the aktuarialny method based on triangles of development of losses (the Chain method - Ladder), for the purpose of ensuring uniform application of provisions of Art. 40 of the h is used. (5) the Law No. 414-XVI of 22.12.2006 "About obligatory civil liability insurance for the damage caused by vehicles" based on Art. 1 of the h. (1), Art. 3, Art. 4 of the h. (1) and (2), Art. 9 of the h. (1) item d), Art. 25 of the h. (2) the Law No. 192-XIV of 12.11.1998. "About the National commission on the financial market" (No. 117-126 BIS is repeatedly published in the Official monitor of the Republic of Moldova, 2007) the National commission on the DECIDES: financial market

1. Order to the insurers having the license for implementation of activities for obligatory civil liability insurance for the damage caused by vehicles continue after 9.09.2012 to apply the size of basic insurance premium and cost of adjusting factors for internal and external compulsory third party car insurance approved by the Resolution of the National commission on the financial market No. 53/5 of 31.10.2008. "About establishment of basic insurance premium and cost of adjusting factors for internal and external compulsory third party car insurance".

2. To impose control over execution of this resolution on general management of supervision of insurance.

3. This resolution becomes effective from the date of publication.

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