Regulatory Alerts2016-06-27
Regulation on Delegation of Functions
The Board of the Central Bank of the Republic of Kosovo issued this regulation to establish the framework and criteria for insurers to delegate operational functions to external receivers. Insurers must obtain prior written approval from the CBK by submitting a detailed request, a formal contract, and evidence that delegation will not compromise financial stability, management quality, or policyholder interests. The CBK retains a thirty-day review period to approve or refuse requests, along with the authority to withdraw approvals and enforce remedial measures if supervision becomes compromised or requirements are unmet.
Share