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

of June 26, 2015 No. 36/5

About the instruction to the insurers having the license for internal and external compulsory third party car insurance

In view of the decisions of council of Bureau of the international system of insurance "Green card" which are brought to the attention by the letter of 5:06. According to which 2015, the risk of suspension of membership of National bureau of insurers of vehicles in the international system of insurance "Green card", based on the Art. 1, of the Art. 3, of Art. 4 of the h remains. (1) and (2), Art. 8 of the item c) and r), Art. 9 of the h. (1) item d) and r), Art. 25 of the h. (2) the Law No. 192-XIV of 12.11.1998 "About the National commission on the financial market" (it is repeatedly published in the Official monitor of the Republic of Moldova, 2007, No. 117-126 BIS), Art. 30 of the h. (4) and Art. 31 of the h. (1) the item and) 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. 47-49, the Art. 213), Art. 55 of h. (2) and (3) the Law No. 407-XVI of 21.12.2006 "About insurance" (The official monitor of the Republic of Moldova, 2007, No. 47-49, the Art. 213) the National commission on the DECIDES: financial market

1. Order to the insurers having on the date of entry into force of this resolution the license for internal and external compulsory third party car insurance (further – insurers):

1) transfer of all amounts paid by foreign motor national bureaus or foreign insurance companies as compensation of the damage caused by owners of the insurance policies "Green card" issued by insurers according to the General provision of council of Bureau of the international system of insurance "Green card";

2) non-admission of new warranty requirements (guarantee calls) from foreign motor national bureaus for payment of insurers of vehicles by National bureau.

2. Warn insurers that in case of non-compliance with provisions of item 1 of this resolution sanctions according to the existing requirements of the legislation, including Art. 21 of the h will be applied. (2) the item f) the Law No. 451-XV of 30.07.2001 "On regulation of business activity by licensing" (it is repeatedly published in the Official monitor of the Republic of Moldova, 2005, No. 26-28, by the Art. 95).

3. Insurers will inform the National commission on the financial market on execution of this resolution periodically (the 15 and 30 days of every month).

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

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

Deputy Chairman of the National commission on the financial market

Yuriye Phillip

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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