Regulatory Alerts2023-08-31
Regulations for the Management of Commissions and Operating Expenses of Insurers
The Board of the Central Bank of the Republic of Kosovo has issued regulations establishing strict limits on how licensed non-life insurers manage commissions and operating expenses. The rules cap general administrative costs at thirty percent of gross written premiums and restrict compulsory motor liability insurance commissions to a maximum of eight percent, while mandating dedicated bank accounts for premium collection and claim payments. Insurers must adapt internal policies within three months and submit quarterly electronic reports detailing premiums, commissions, and claims to ensure ongoing compliance and sufficient reserve funds.
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