Regulatory Alerts2024-09-26
Regulation on the system of governance of insurance or reinsurance undertakings
The National Bank of Moldova issued Decision No 241/2024 to approve a new regulation establishing comprehensive governance requirements for insurance and reinsurance undertakings. The regulation mandates that undertakings implement effective systems of cooperation, clear organizational structures, and robust risk management policies aligned with their business strategies. It further defines the specific duties of governing bodies, including the board and executive body, while setting minimum standards for specialized committees and key governance functions.
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