Regulatory Alerts2017-03-30
Regulation on Arbitration Tribunal Procedures
The Board of the Central Bank of the Republic of Kosovo issued this regulation to establish standardized procedures for insurance-related arbitration tribunals, applying to insurers, policyholders, and third parties. It mandates written arbitration agreements, defines tribunal composition as either a single arbitrator or an odd-numbered panel, and sets strict timelines for arbitrator appointment, challenge, prior notice, and final decision-making within fifteen days of hearings. The regulation ensures final and binding awards, requires quarterly reporting to the CBK, mandates five-year recordkeeping, and repeals the 2008 rule on arbitration establishment.
Share