Regulatory Alerts2012-07-27
Regulation on the Compensation Fund of the Kosovo Insurance Bureau
The Board of the Central Bank of Kosovo issued this regulation to establish the funding, maintenance, and operational framework for the Compensation Fund administered by the Kosovo Insurance Bureau. Licensed insurers must make quarterly contributions based on motor liability premiums and maintain actuarially calculated reserves to cover domestic damages, with funds held in designated commercial banks. The regulation mandates strict reporting, allows for additional financing when reserves are insufficient, and imposes punitive measures for non-compliance, taking effect on 1 August 2012.
Share