Decision No. 20/2 on Approving the Regulation on the Direct Settlement Procedure

REPUBLIC OF MOLDOVA
NATIONAL FINANCIAL MARKET COMMISSION
77 Stefan cel Mare si Sfant Blvd., Chisinau, MD 2012, tel: (373 22) 859 401, www.cnpf.md, e-mail: office@cnpf.md

DECISION
April 28, 2026 No. 20/2

On the Approval of the Regulation on the Direct Settlement Procedure

Pursuant to Article 31(2) of Law No. 106/2022 on mandatory civil liability insurance for damages caused by vehicles (Official Monitor of the Republic of Moldova, 2022, no. 129 – 133, art. 239),

The National Financial Market Commission DECIDES:

1. The Regulation on the Direct Settlement Procedure (attached) is approved.

2. Decision No. 24/1 of the National Financial Market Commission dated May 14, 2024, on the approval of the form and content of certain standardized forms related to mandatory civil liability insurance for damages caused by vehicles and the instructions for completing them (Official Monitor of the Republic of Moldova, 2024, no. 275 – 277, art. 510), with subsequent amendments, is amended as follows:

2.1. In Annex No. 1, section 5. "Characteristics" is supplemented with the following paragraph:
"Kdd Direct Settlement (to be checked): □ YES □ NO";

2.2. In Annex No. 2, point 7 is supplemented with subpoint 7) with the following content:
"7) 'Kdd Direct Settlement': the YES box is checked if the applicant opts to include the direct settlement service in the contract. Otherwise, the NO box is checked."

2.3. Annex No. 5:
2.3.1. At point 8, the table shall have the following content:
Registration Number
Basic Insurance Premium
Correction Coefficients
Insurance Premium
K1 K2 K3 K4 K5 K6 Kgc
Kbm bonus-malus
Kdd

2.3.2. It is supplemented with point 81 with the following content:
"81. In the event that the option to include the direct settlement service in the contract was chosen, the injured person has the right to submit the compensation claim to their own RCA insurer."

2.4. In Annex No. 6, point 9 is supplemented with the text: "Upon concluding the mandatory internal RCA insurance contract using electronic means, it is presumed that by registering the insurance contract in the State Automated Information System in the field of mandatory RCA insurance, administered by the National Bank of Moldova, the insurer has expressed their consent to its conclusion."

2.5. In Annex No. 7:
2.5.1. In the introductory part, the line "Vehicle:"
brand, model shall have the following content:
"Direct Settlement: □ YES □ NO Vehicle:" brand, model

2.5.2. In the "USEFUL INFORMATION" section, the text "submit a petition via email to office@cnpf.md or at the address: MD-2012, Chisinau, Stefan cel Mare si Sfant Blvd., no. 77" is replaced with the text: "In the event that your rights have been violated, first address a complaint to the insurer and keep proof of submission. If you disagree with the response or if you have not received a response within 15 working days, submit a petition to the National Financial Market Commission, attaching proof of the address, to office@cnpf.md or at the address: MD-2012, Chisinau, Stefan cel Mare si Sfant Blvd., no. 77";

2.6. Annex No. 8:
2.6.1. It is supplemented with point 81
with the following content:
"81. In the 'Direct Settlement' row, the 'YES' box is checked if the option to include the direct settlement service in the contract was chosen, and otherwise, the 'NO' box is checked."

2.6.2. At point 14, subpoint 7) is supplemented with the text: "In the case of an insurance policy issued as a result of concluding the contract by electronic means, the inscription of the signature is not mandatory."

2.7. In Annex No. 10, point 9 is supplemented with the text: "Upon concluding the mandatory external RCA insurance contract using electronic means, it is presumed that by registering the insurance contract in the State Automated Information System in the field of mandatory RCA insurance, administered by the National Bank of Moldova, the insurer has expressed their consent to its conclusion."

2.8. In Annex No. 12, point 4, subpoint 13) is supplemented with the text: "In the case of the 'Green Card' insurance certificate issued as a result of concluding the mandatory external RCA insurance contract by electronic means, the inscription of the signature is not mandatory."

2.9. Annex No. 13 is supplemented with section 61
with the following content:
"61. Direct Settlement (to be checked): □ NO □ YES (the number of the RCA insurance contract is indicated) ______________";

2.10. Annex No. 14 is supplemented with point 101 with the following content:
"101. At section 61 'Direct Settlement', in the event that the injured person addresses the RCA insurer with whom they have concluded a mandatory internal RCA insurance contract containing a clause on direct settlement, for the purpose of recovering insurance compensation, the 'YES' box is checked, indicating the number of their own mandatory internal RCA insurance contract. In the event that the injured person has not concluded a mandatory internal RCA insurance contract containing a clause on direct settlement, or addresses the RCA insurer of the at-fault person, the 'NO' box is checked."

3. This Decision enters into force one month after the date of publication in the Official Monitor of the Republic of Moldova, except for point 2, which will enter into force six months after the date of publication in the Official Monitor of the Republic of Moldova.

4. Within 5 months from the date of entry into force of this Decision, RCA insurers will conclude agreements regarding the direct settlement procedure.

Dumitru BUDIANSCHI,
PRESIDENT

Approved by Decision of the National Financial Market Commission No. 20/2 dated April 28, 2026

REGULATION on the Direct Settlement Procedure

Chapter I
GENERAL PROVISIONS

1. The Regulation on the Direct Settlement Procedure (hereinafter – Regulation) establishes the rules for the implementation, operation, and application of the direct settlement procedure between motor vehicle civil liability insurers (hereinafter – RCA).

2. For the purposes of this Regulation, the following terms have the following meanings:
   2.1. the insurer or insurers of the at-fault person – the insurer that issued the valid mandatory RCA insurance contract on the date of the vehicle accident, for the vehicle whose owner and/or user is the at-fault person;
   2.2. the RCA insurer of the injured person – the insurer that issued the valid mandatory RCA insurance contract on the date of the vehicle accident, for the vehicle whose owner and/or user is the injured person.

Chapter II
PROCEDURE FOR APPLYING DIRECT SETTLEMENT

3. The damage file within the direct settlement procedure is processed in accordance with the general procedure established in Law No. 106/2022 on mandatory civil liability insurance for damages caused by vehicles (hereinafter – Law No. 106/2022).

4. The insurer of the injured person may refuse direct settlement in the event of non-fulfillment of one or more conditions provided for in Article 31(1) letters a) – e) of Law No. 106/2022.

5. In the event of refusal regarding direct settlement, the RCA insurer of the injured person notifies their decision to the insurer or insurers of the at-fault person, within the term established in the Agreement on the Direct Settlement Procedure (hereinafter – Agreement), but no later than 7 working days from the date of issuing the decision, and transmits the copy of the reasoned refusal communicated to the injured person, as well as the copy of the associated damage file.

Chapter III
COMPENSATION AND PAYMENT OF SUMS BETWEEN INSURERS

6. The insurance compensation paid by the RCA insurer of the injured person is enforceable and guaranteed by the insurer or insurers of the at-fault person for the occurrence of the vehicle accident.

7. The insurer or insurers of the at-fault person reimburse the RCA insurer of the injured person for the insurance compensation paid to them, within 15 days from the date of receiving the reimbursement request (in the case of insurance compensation paid in cash or by transfer to the injured person's payment account) or the confirmatory documents regarding the repair (in the case of insurance compensation paid for the benefit of the repair unit), transmitted by the RCA insurer of the injured person, except for situations where the RCA insurers have agreed that the extinguishment of the obligation occurs through compensation, in accordance with civil legislation and points 8 – 11.

8. Within 15 days from the end of each month, RCA insurers verify and reconcile the consolidated statements of insurance compensation paid in the previous month, accompanied by supporting documents, related to damage files resolved through direct settlement, establishing the sums owed reciprocally.

9. In the event that a debtor balance results for one of the RCA insurers, they effect the payment within 15 days from the date the balance is established.

10. Any discrepancies or divergences regarding certain sums subject to compensation do not suspend the compensation and payment of the requested sums.

11. The compensation and payment of sums carried out on the basis of this chapter do not prejudice the right of RCA insurers to subsequently formulate claims for the recovery of sums paid unjustifiably or determined erroneously, under the conditions of the law and this Regulation.

Chapter IV
AGREEMENT ON THE DIRECT SETTLEMENT PROCEDURE

12. Insurers, within 30 days from the date of issuance of the license for conducting mandatory internal RCA insurance activities, conclude Agreement(s), regardless of whether they offer or do not offer the direct settlement service.

13. The Agreement includes, at least, the following elements:
    13.1. the procedure for mutual notification of events, under the conditions of the Regulation, including contact points, correspondence addresses, and remote communication means;
    13.2. the list of documents that must be prepared in the process of direct settlement of damages, the procedure, terms, and methods for exchanging these documents (including the procedure for registering and storing them);
    13.3. the conditions, method, and terms for making payments between participants in the Agreement, within the limits of the conditions of this Regulation;
    13.4. the material liability of the insurer or insurers of the at-fault person for non-reimbursement within the terms mentioned in point 7 or point 9, as applicable;
    13.5. the procedure for resolving disputes between RCA insurers;
    13.6. the methods for revising the Agreement.

Chapter V
ACCOUNTING AND REPORTING

14. Within 30 days from the date of signing the Agreement, the RCA insurer notifies the National Financial Market Commission (hereinafter – CNPF) regarding its conclusion.

15. RCA insurers keep records of damage files resolved through the direct settlement procedure, which allow for the rapid identification of files, sums paid, and payments between RCA insurers.

16. RCA insurers submit annually to the CNPF the Report on the Direct Settlement Procedure (hereinafter – Report), prepared according to the annex, by May 15 of the year following the reporting period.

17. The Report is prepared in Romanian and submitted to the CNPF in electronic form, using a qualified electronic signature, under the conditions of Law No. 124/2022 on electronic identification and trust services, and is sent to the email address office@cnpf.md.

18. The Report is signed by the administrator or by the person responsible, designated by them.

19. The Report signed and submitted to the CNPF must not contain corrections. In the event of detection of errors and/or incomplete data in the report, insurers will submit the corrected Report within 3 working days from the date of identification of the error or notification regarding the error and/or incomplete data detected by the CNPF.

20. In the event of impossibility to submit the Report in electronic form, insurers immediately inform the CNPF about this fact by any means of communication, with subsequent submission on paper within the prescribed term.

21. RCA insurers are responsible for the correctness and veracity of the information presented to the CNPF in the Report.

Annex
to the Regulation on the Direct Settlement Procedure

REPORT on the Direct Settlement Procedure of the insurer ________________________ for the year __________

No.
Indicator Value

1. Number of mandatory internal RCA insurance contracts
   concluded, which include the clause on the application of the direct settlement procedure, including:
   1.1. natural persons
   1.2. legal persons
2. Sum of gross premiums subscribed, related to the direct settlement service, including:
   2.1. natural persons
   2.2. legal persons
3. Total number of damage files processed,
   related to the direct settlement procedure:
   3.1. in the capacity of RCA insurer of the injured person
   3.2. in the capacity of RCA insurer of the at-fault person
4. Total sum of insurance compensation paid according to
   the direct settlement procedure:
   4.1. in the capacity of RCA insurer of the injured person
   4.2. in the capacity of RCA insurer of the at-fault person
5. Total sum of insurance compensation recovered

INSTRUCTION on completing the Report on the Direct Settlement Procedure

1. This Instruction regulates the method of completing the Report on the Direct Settlement Procedure.

2. At line 1, in the "Value" column, the total number of mandatory internal RCA insurance contracts concluded during the reporting period, which include the clause on the application of the direct settlement procedure, is indicated.

3. At sub-line 1.1, in the "Value" column, the number of RCA contracts concluded with natural persons, which include the clause on the application of the direct settlement procedure, is indicated.

4. At sub-line 1.2, in the "Value" column, the number of RCA contracts concluded with legal persons, which include the clause on the direct settlement procedure, is indicated.

5. At line 2, in the "Value" column, the sum of gross premiums subscribed, related to the direct settlement service, corresponding to the RCA contracts mentioned at line 1, reflected in Moldovan lei, is indicated.

6. At sub-line 2.1, in the "Value" column, the sum of gross premiums subscribed, related to RCA contracts concluded with natural persons, which include the clause on direct settlement, reflected in Moldovan lei, is indicated.

7. At sub-line 2.2, in the "Value" column, the sum of gross premiums subscribed, related to RCA contracts concluded with legal persons, which include the clause on direct settlement, reflected in Moldovan lei, is indicated.

8. At line 3, the "Value" column is not completed.

9. At sub-line 3.1, in the "Value" column, the number of damage files processed according to the direct settlement procedure, in which the insurer had the quality of RCA insurer of the injured person, is indicated.

10. At sub-line 3.2, in the "Value" column, the number of damage files processed according to the direct settlement procedure, in which the insurer had the quality of RCA insurer of the at-fault person, is indicated.

11. At line 4, the "Value" column is not completed.

12. At sub-line 4.1, in the "Value" column, the total sum of insurance compensation paid according to the direct settlement procedure, in which the insurer had the quality of RCA insurer of the injured person, reflected in Moldovan lei, is indicated.

13. At sub-line 4.2, in the "Value" column, the total sum of insurance compensation paid according to the direct settlement procedure, in which the insurer had the quality of RCA insurer of the at-fault person, reflected in Moldovan lei, is indicated.

14. At line 5, in the "Value" column, the total sum of insurance compensation recovered, according to the direct settlement procedure, from other RCA insurers, reflected in Moldovan lei, is indicated.