Starting April 1st, 2016, MOLDAVIAN drivers will not be able to buy Green Card insurance

Starting April 1st, 2016, Moldavian drivers will not be able to buy Green Card policies from local companies, according to the most recent decision taken by the National Bureau of Motor Insurers (BNAA). According BNAA's statistics, on December 7th, there were 39,589 valid Green Card policies issued by 10 authorized insurers.

"Local insurers are no longer entitled to sell Green Card policies valid from April 1st", Aina OSOIANU, Executive Director of BNAA, stated to XPRIMM. Alina OSOIANU added that all policies that will be issued until April 1st remain valid and the maximum term of expiry will be on December 31st, 2016.

Taking into account the fact that starting April 1st, Moldova risks to be suspended from the international Green Card system, Alina OSOIANU said that BNAA's decision is temporary, in order to comply with the mandatory one adopted by the Council of Bureaux (CoB).

Read more about the decision adopted by the CoB General Assembly.

Alina OSOIANU pointed out that BNAA's decision comes to protect the interests of Moldavian drivers (eliminating the risk to travel abroad uninsured) and the interests of local insurers - in the sense that they can use the reinsurance protection for the current issued policies.

If the CoB's General Assembly decision will remain in force, being not changed until the end of the monitoring period, starting April 1st, 2016 Moldova will be suspended from the international Green Card system and the Moldovan drivers who want to travel abroad will have to buy insurance at the first neighboring country's border, possibly more expensive than Green Card policies currently sold by local insurers.

The 10 companies authorized to sell Green Card policies in Republic of Moldova are: ACORD Grup, ASITO, DONARIS VIG, GRAWE CARAT Asigurari, MOLDASIG, MOLDCARGO, MOLDOVA-ASTROVAZ, KLASSIKA Asigurari, ALLIANCE Insurance Group (former VICTORIA Asigurari) and ASTERRA Grup.

Related articles

Moldova: GENERAL Asigurari is the newest player to enter the market

GENERAL Asigurari is the most recent player to enter the re/insurance market in Moldova. The Board of Directors of the National Commission of Financial Market has issued the prior approval of registration in this regard, according to official anouncement made by local supervisory authority.

2016-11-10

STATISTICS: Rep. of Moldova, 1H2016: GWP up by more than 9.5%, while claims increased by over 40%

The Moldavian insurance market has recorded in 1H2016, total GWP of MDL 628 million (EUR 28,2 million), increasing by 9,5% as compared with 1H2015, according to the official data published by the National Commission of the Financial Market in Moldova (CNPF). In the European currency, company's GWP have seen a decrease of 0,49%, as a consequence of the national currency depreciation against the European one.

2016-08-18

STATISTICS: MOLDAVIAN insurers reported a business volume of EUR 59 million at the end of 2015

At the end of December 2015, the Moldavian insurance market totaled MDL 1.2 billion (about EUR 58.8 million), up by 2.1% y-o-y, according to the preliminary statistics recently published by the market's supervisory authority. Claims paid by the 15 insurers that have reported operations totaled MDL 386.6 million (or EUR 18.5 million) - equivalent to 31% of the total GWP.

2016-04-14

ON THE MOVE

TOP EVENT

61st "Rendez-Vous de Septembre" ends today in Monte Carlo: review

The 61st edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers ends today in Monte Carlo. The Nat Cat insurance protection gap, as well as the global insurance market readiness to deal with the increasing complexity of the cyber risks were among the most debated topics.

14.09.2017

photodune-3834701-laughing-girl-xs

MONTE CARLO: Live news from the "Rendez-Vous de Septembre"

The 61st edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers has started yesterday in Monte Carlo. XPRIMM publications on the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel as well as at the other event's venues.

10.09.2017

See all