Regulatory Alerts2023-08-07
Regulation on the licensing of the insurance and/or reinsurance broker
The National Commission for Financial Markets of Moldova issued Decision No 34/15/2023 approving the Regulation on the licensing of insurance and/or reinsurance brokers. This Regulation establishes the comprehensive procedures for issuing, reissuing, suspending, and withdrawing broker licenses, including specific documentation requirements and financial thresholds. It mandates that applications be processed within 15 working days and requires brokers to maintain professional liability insurance with minimum coverage of MDL 10 million per claim.
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