Regulatory Alerts2022-01-01
Regulation on the Classification of Risk Types by Groups and Insurance or Reinsurance Types – Unofficial Consolidated Text (NN, No. 23/16, 27/16, 42/19, 142/22)
Issued by the Croatian regulatory authority, this Regulation establishes a standardized classification framework for risk types across insurance groups, subgroups, business lines, and specific insurance categories. It mandates that all licensed insurance and reinsurance companies apply this framework when obtaining operational approvals, reporting cross-border activities, and segmenting life and non-life liabilities according to the actual nature of underlying risks. The Regulation aligns domestic business lines with EU Regulation 2015/35 and provides detailed codified lists of accident, health, property, liability, financial loss, and life insurance risks to ensure consistent regulatory reporting and risk distribution.
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