Regulatory Alerts2020-09-21
Decision on Technical Provisions
The Executive Board of the National Bank of Serbia issued this Decision to establish the criteria, methods, and timeframes for calculating technical provisions required to cover insurance and reinsurance liabilities. The regulation mandates that undertakings calculate specific reserves, including unearned premium, unexpired risk, and outstanding claims reserves, using prudent actuarial principles and reliable data. It further details the calculation formulas and procedural requirements for these reserves to ensure they are sufficient to meet all contractual obligations.
Share