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ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of March 17, 2008 No. 318

About approval of Methodology of calculation of basic insurance premium and adjusting factors for obligatory civil liability insurance for the damage caused by vehicles

(as of December 26, 2008)

For the purpose of providing the optimum mechanism of realization of obligatory civil liability insurance for the damage caused by vehicles and also in pursuance of provisions of parts (1) and (2) article 11 of the Law on obligatory civil liability insurance for the damage caused by vehicles, N 414-XVI of December 22, 2006. (The official monitor of the Republic of Moldova, 2007, N 32-35, Art. 112) DECIDES: the Government

1. Approve Methodology of calculation of basic insurance premium and adjusting factors for obligatory civil liability insurance for the damage caused by vehicles according to the appendix N 1.

2. The national commission on the financial market at least once a year to determine basic insurance premium and value of adjusting factors for obligatory internal and external car responsibility insurance according to the Methodology specified in Item 1 of this resolution.

3. Insurers shall store and systematize the statistical data necessary for application of this Methodology.

4. Determine that in the absence of necessary information for implementation of calculations according to the methodology specified in Item 1 of this Resolution experience of the countries of the International system of insurance "Green card" will be applied to accumulating of the necessary data allowing to perfrom exact calculation of value of insurance premiums.

5. The basic insurance premium and value of adjusting factors for obligatory internal and external car responsibility insurance are published by the National commission on the financial market in the Official monitor of the Republic of Moldova and in two mass periodicals.

6. For date of publication some orders of the Government according to the appendix N 2 are recognized the Official monitor of the Republic of Moldova of the resolution of the National commission on the financial market on approval of basic insurance premium and values of coefficients invalid.

 

Prime Minister

Vasile Tarlev

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