Regulatory Alerts2014-10-29
Decree Establishing the Minimum Sum Insured in Motor Third Party Liability Insurance
The Government of Serbia issued this decree to establish the minimum sum insured for motor third party liability insurance based on the Law on Compulsory Traffic Insurance. The regulation mandates a minimum coverage of the dinar equivalent of EUR 1,000,000 for personal injury and EUR 200,000 for property damage per single loss event. This decree entered into force on 13 October 2014.
”RS Official Gazette“, No 108/2014 Based on Article 22, paragraph 1 of the Law on Compulsory Traffic Insurance (RS Official Gazette, Nos 51/09, 78/11, 101/11, 93/12 and 7/13 – CC) and Article 42, paragraph 1 of the Law on the Government (RS Official Gazette, Nos 55/05, 71/05 – correction, 101/07, 65/08, 16/11, 68/12 – CC, 72/12, 7/14 – CC and 44/14), the Government passes D E C R E E establishing the minimum sum insured in motor third party liability insurance Article 1 The minimum sum insured for which motor third party liability insurance may be contracted, within the meaning of Article 22 of the Law on Compulsory Traffic Insurance (RS Official Gazette, Nos 51/09, 78/11, 101/11, 93/12 and 7/13 – CC), shall be the dinar equivalent of:
- EUR 1,000,000 – for personal injury, caused by a single loss event, regardless of the number of damaged parties,
- EUR 200,000 – for damage to property, caused by a single loss event, regardless of the number of damaged parties. Article 2 This Decree shall enter into force on 13 October 2014. 05 number 110-12157/2014 Belgrade, 9 October 2014 Government President, Aleksandar Vučić, sgd.