Regulatory Alerts2012-12-27
Regulation on Procedures for Handling Claims for Compensation of Damages Arising from Compulsory Motor Liability Insurance
The Board of the Central Bank of Kosovo issued this regulation to standardize how licensed insurers process compensation claims under compulsory motor liability insurance. It mandates strict documentation verification, establishes handling deadlines of fifteen days for property damage and sixty days for personal injury, and requires payment within fifteen calendar days of claimant agreement. The framework assigns specific roles to authorized personnel, handlers, and insurer physicians while granting claimants the right to file complaints or lawsuits if insurers miss statutory deadlines, subject to a 12 percent annual late payment interest rate.
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