Decision on Conducting Thematic Control within Insurance Companies

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 December 16, 2025 No. 60/3 On conducting thematic control within insurance companies

In accordance with the Control Activities Plan of the National Financial Market Commission for 2025 (annex to Decision of the National Financial Market Commission (CNPF) No. 13/1/2025, hereinafter – the Control Activities Plan), thematic control within insurance companies (insurers) is planned for the fourth semester.

In this context, when establishing the scope of the control, it was also taken into account that several petitions have been registered with the CNPF for the purpose of examining how insurance companies settle damage files related to compulsory third-party liability insurance for damages caused by vehicles (compulsory RCA insurance).

During 2025, 144 petitions related to the insurance sector were registered with the CNPF, of which 96 (approx. 67 percent of the total) concern compulsory RCA insurance. The main problems involve refusals to pay compensation, delays in resolving damage files, and disagreements regarding the value of compensation awarded, including the method of establishing insurance compensation in cases of bodily injury and/or death.

Accordingly, the basis for conducting the thematic control consists of both the Control Activities Plan for 2025 and the conclusions formulated by the CNPF based on the repetitive nature of certain actions/inactions of professional participants in the insurance market.

Furthermore, according to the Register of professional participants in the insurance market, available on the official website of the National Bank of Moldova (BNM), 9 insurance companies have the right to conduct domestic compulsory RCA insurance activities.

By implementing a thematic control, adequate investigation will be ensured into how insurance companies settle damage files.

Moreover, the similarity of deficiencies identified in administrative procedures initiated at the request of petitioners raises reasonable suspicions regarding the systemic nature of these issues in the activities of insurers.

In this regard, the CNPF concludes on the expediency of initiating a thematic control, which will be carried out from the CNPF premises and will be directed towards verifying the manner in which insurance companies process damage files related to domestic compulsory RCA insurance, during the activity period 01.01.2025 – 30.09.2025, regarding:

• compliance with the deadlines established in Article 20 para. (1) lit. d) – f) and para. (2), Article 22 para. (8) and Article 29 para. (1) and para. (2) of Law No. 106/2022 on compulsory third-party liability insurance for damages caused by vehicles (Law No. 106/2022), in all damage files;
• fulfillment of legal obligations provided for in Article 20 and Article 26 of Law No. 106/2022 on compulsory third-party liability insurance for damages caused by vehicles, and compliance with Article 13 of Law No. 105/2003 on consumer protection, in the case of damage files related to accidents resulting in bodily injury and/or death.

Based on statistical data published on the official website of the BNM, a total of 20,808 insurance compensations were registered as paid for the period 01.01.2025–30.09.2025, of which 20,665 were paid for damages caused to property and 143 were paid for damages caused to health.

According to Article 69 para. (1) of the Administrative Code, the administrative procedure is considered initiated from the first procedural action.

Subsequently, according to Article 9 para. (12) of Law No. 192/1998 on the National Financial Market Commission, “(12) The administrative control procedure is regulated by the normative act of the supervisory authority. In the case of administrative control procedures involving more than one entity subject to control, the term within which the administrative control procedure must be finalized cannot exceed 180 days.”

In this regard, taking into account that the control is to cover all insurance companies that currently have the right to conduct insurance activities, considering the procedural perspective and based on the complex nature of the actions related to the thematic control, the execution of which implies time for identifying and analyzing a considerable volume of documents and establishing all factual and legal circumstances, it is considered appropriate to establish a term of 155 days for the completion of the administrative control procedure.

Complementarily, the need to form an inspection team consisting of 2 employees of the Insurance Department within the Consumer Protection Supervision Department is noted, which will carry out the control based on the Control Plan attached to this Decision.

On the basis of Article 4 para. (21) lit. b), Article 8 lit. f1), Article 9 para. (12), Article 18 para. (3), Article 20 para. (1) and para. (6) and Article 22 para. (3) of Law No. 192/1998, Law No. 106/2022 on compulsory third-party liability insurance for damages caused by vehicles, the Administrative Code, the Regulation on the Administrative Control Procedure (CNPF Decision No. 60/10/2023) and points 5, 16 and 19 of the Regulation on the Organization and Functioning of the National Financial Market Commission (CNPF Decision No. 57/11/2022),

The National Financial Market Commission DECIDES:

1. An administrative procedure for thematic control is initiated ex officio, regarding the verification of the manner in which insurance companies process damage files related to domestic compulsory RCA insurance, during the activity period 01.01.2025 – 30.09.2025, regarding:

• compliance with the deadlines established in Article 20 para. (1) lit. d) – f) and para. (2), Article 22 para. (8) and Article 29 para. (1) and para. (2) of Law No. 106/2022 on compulsory third-party liability insurance for damages caused by vehicles, in all damage files;
• fulfillment of legal obligations provided for in Article 20 and Article 26 of Law No. 106/2022 on compulsory third-party liability insurance for damages caused by vehicles, and compliance with Article 13 of Law No. 105/2003 on consumer protection, in the case of damage files related to accidents resulting in bodily injury and/or death.

2. A term of 155 days is established for the completion of the administrative procedure mentioned in point 1.

3. The inspection team is established in the following composition:
   3.1. Mr. Constantin Roșca, Senior Specialist, Insurance Department, Consumer Protection Supervision Department, head of the inspection team;
   3.2. Ms. Cristina Alii, Senior Specialist, Insurance Department, Consumer Protection Supervision Department.

4. The thematic control mentioned in point 1 is to be carried out from the CNPF premises, during the period 22.12.2025 – 23.03.2025, according to the Control Plan (attached).

5. Insurance companies shall present, upon request of the inspection team, data from information systems, including 1C: Accounting, and from other available information sources, as well as copies of all requested documents/information necessary for conducting the control of the reference period.

6. This Decision constitutes an administrative act and may be contested together with the individual administrative act adopted upon completion of the initiated administrative control procedure.

7. This Decision enters into force on the date of adoption, is communicated to recipients in accordance with the legislation, and is published on the official website of the CNPF (www.cnpf.md).

Dumitru BUDIANSCHI,
PRESIDENT