Regulatory Alerts2020-09-21
Decision on the Basic Criteria of the Bonus-Malus System, Data Required For Its Application, and Maximum Bonus
The Governor of the National Bank of Serbia issued this Decision to establish the regulatory framework for the bonus-malus system applied to motor third party liability insurance in Serbia. The regulation defines premium calculation coefficients, specifies the data insurers must collect and report to the Association of Serbian Insurers, and outlines rules for transferring premium levels between vehicles and owners. It mandates that insurers adjust policyholder premiums based on prior claims history, with specific provisions for base premiums, malus penalties, and maximum bonus caps.
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