Regulatory Alerts2022-05-27
Decision on Application of the Sex Factor in Insurance
The Executive Board of the National Bank of Serbia issued this Decision to mandate the equal treatment of women and men by prohibiting the use of sex factors in pricing individual insurance premiums and benefits for new contracts effective from 31 December 2022. While existing contracts concluded before this date may continue to apply sex-based differentiation, insurers are permitted to use sex data for group pricing, internal solvency calculations, and specific risk assessments in life and voluntary health insurance based on physiological differences. The regulation also allows for sex-specific marketing and offers targeting exclusive risks, provided such practices do not restrict access to insurance services based on gender.
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