Regulatory Alerts2010-02-25
Decree on the Minimum Sum Insured and/or Insurance Sum in Compulsory Traffic Insurance
The Government of Serbia issued this decree to establish minimum insurance sums for compulsory traffic insurance covering public transport passengers, aircraft owners, and boat owners. The regulation specifies fixed coverage limits, including EUR 8,000 for passenger death and tiered Special Drawing Rights amounts for aircraft liability based on maximum takeoff weight. These provisions entered into force upon publication in the Official Gazette, with specific aircraft liability rules applying from January 1, 2010.
“RS Official Gazette”, No. 89/09 Based on Article 16, paragraph 1, Article 62, paragraph 1 and Article 65, paragraph 1 of the Law on Compulsory Traffic Insurance (“RS Official Gazette”, No. 51/09), the Government hereby issues the following D E C R E E on the Minimum Sum Insured and/or Insurance Sum in Compulsory Traffic Insurance Article 1 This Decree sets forth the minimum sums insured in accident insurance for passengers in public transport, insurance for aircraft owners against liability for damage caused to third parties and passengers, and insurance for boat owners against liability for damage caused to third parties. Article 2 In contracting accident insurance for passengers in public transport, within the meaning of Article 14 of the Law on Compulsory Traffic Insurance (“RS Official Gazette”, No. 51/09), the minimum sum insured per passenger (in the dinar equivalent) shall be as follows:
- in the event of death of a passenger – EUR 8,000;
- in the event of passenger’s permanent loss of the general working ability (disability) – EUR 16,000;
- in the event of passenger’s temporary inability to work and actual and necessary costs of medical treatment– EUR 4,000. Article 3 In contracting insurance for aircraft owners against liability for damage caused to third parties and passengers, within the meaning of Article 61 of the Law, the minimum insurance sum per loss event (in the dinar equivalent) shall be as follows:
- for damage caused to third parties: (1) for motor propelled gliders with MTOM above 20 kg - SDR 10,000 (2) for hot air balloons with crew - SDR 20,000 (3) for aircraft with MTOM of:
- less than 500 kg - SDR 750,000
- less than 1,000 kg - SDR 1,500,000
- less than 2,700 kg - SDR 3,000,000
- less than 6,000 kg - SDR 7,000,000
- less than 12,000 kg - SDR 18,000,000
- less than 25,000 kg - SDR 80,000,000
- less than 50,000 kg - SDR 150,000,000
- less than 200,000 kg - SDR 300,000,000 -less than 500,000 kg - SDR 500,000,000
- 500,000 kg and more - SDR 700,000,000
- for individual passenger - SDR 250,000
- for passenger’s personal belongings in - SDR 1,000 the aircraft cabin
- for cargo and registered luggage, per kg - SDR 17. Notwithstanding paragraph 1, item 2) hereof, for aircraft with MTOM of 2,700 kg or less which are not used for commercial purposes, the minimum insurance sum per loss event shall be SDR 100.000 per passenger. Article 4 In contracting insurance for boat owners against liability for damage caused to third parties, within the meaning of Article 64 of the Law, the minimum insurance sum per loss event shall be the dinar equivalent of EUR 200,000. Article 5 Article 3 hereof shall be applied as of 1 January 2010. Article 6 This Decree shall enter into force on the day following its publication in the “RS Official Gazette”. 05 No. 110-6576/2009 Belgrade, 29 October 2009 Government First Deputy Prime Minister – Deputy Prime Minister Ivica Dačić, sign.