Regulatory Alerts2001-01-01
Act on Compulsory Motor Third-Party Liability Insurance
The National Council of the Slovak Republic enacted this Act to regulate compulsory motor third-party liability insurance and establish the Slovak Insurers’ Bureau. It mandates that vehicle holders or operators conclude insurance contracts covering personal injury and property damage, with minimum claim limits of EUR 5,240,000 for bodily harm and EUR 1,050,000 for other losses. The legislation further defines the rights and obligations of policyholders and insurers, including strict timelines for claim notification, investigation, and payment, while specifying exclusions and procedures for cross-border incidents.
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