THE RESOLUTION OF THE STATE INSURANCE SUPERVISION COMMITTEE IN CASE OF MF

of March 31, 1997 No. 24

About conditions of insurance and methodology of calculation of insurance rates

According to the Insurance law of June 15, 1993 N1508-XII and for the purpose of determination of unified methodological basis for development of insurance rules and calculation of insurance rates the State insurance supervision

DECIDES:

1. The Temporary methodology of calculation of insurance rates affirms (appendix N 1).

2. Recommend to insurers of the Republic of Moldova to use during preparation of documents for receipt of licenses the Temporary method of calculation of insurance rates on the corresponding types of insurance, with use of official statistical data of National bureau of statistics.

3. Determine that the rate of return of investment of insurance reserves included in calculation of insurance rates can be determined at the rate to 85% of refunding rate of National Bank at the time of calculation representation.

4. In case of personal insurance at the expense of means of legal entities in rules of insurance, issue of insurance policies for each insured worker shall be provided in agreements (irrespective of compulsory or voluntary insurance), according to the list of workers attached to the insurance contract.

Appendix №1

to the resolution of the State insurance supervision of March 31, 1997 No. 24

Temporary methodology of calculation of insurance rates

This technique is developed according to the Art. 54, subitem е, f of the Law "About Insurance" for the purpose of determination and enhancement of unified methodological basis of calculation of insurance rates for personal and property types of insurance.

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