Regulatory Alerts2012-07-27
Regulation on the General Conditions of Motor Liability Insurance Policy
The Central Bank of the Republic of Kosovo issued this regulation to standardize compulsory motor liability insurance policies and ensure fair treatment for insured parties. It mandates vehicle owners to secure coverage before use, establishes minimum compensation limits of one million euros for personal injuries and two hundred thousand euros for property damage, and defines specific coverage exclusions. The regulation further guarantees injured third parties direct claim rights against insurers or the Kosovo Insurance Bureau, while enforcing strict processing timelines and a 12 percent annual late-payment interest rate for delayed settlements.
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