Regulatory Alerts2020-04-30
Licensing of Insurance Intermediaries
The Central Bank of the Republic of Kosovo has issued a regulation establishing comprehensive criteria and procedures for licensing insurance and reinsurance intermediaries, including agents, brokers, brokerage companies, banks, travel agencies, and foreign branches. The framework mandates specific eligibility requirements such as professional exams, minimum charter capital of €5,000 for agents and €10,000 for brokers, valid professional liability insurance, clean criminal records, and approved business plans. It further outlines the standardized application process, required documentation, governing body approvals, and operational conditions necessary for intermediaries to legally conduct insurance intermediation activities in Kosovo.
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