Regulatory Alerts2023-07-27
Obligations of Persons Conducting Insurance/Reinsurance Distribution
The Croatian Financial Services Supervisory Agency (HANFA) issued this July 2023 directive outlining the reporting, documentation, and fee obligations for licensed insurance and reinsurance distribution entities. It mandates electronic submission of semi-annual and annual financial and statistical reports using qualified electronic signatures, introduces LEI code requirements for specific intermediaries, and standardizes professional liability insurance coverage thresholds. Intermediaries must also pay annual supervision fees calculated at 0.8‰ of revenue within fifteen days following the report submission deadline, utilizing designated payment models and digital certificates.
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