Moldovan government backs new norms for insurances market

Chisinau, 10 May /MOLDPRES/ - The tax for the issuance of the licence for the activity of insurance (re-insurance) will be increased up to 20,000 lei, from the one in force of 13,000 lei. At the same time, the tax for the issuance of authorized copies will be increased in quantum of ten per cent of the tax on the issuance of the licence, under a draft on amendment and completion of the law on insurances, approved by the government today.  

Against a background of an ascendant trend of the volume of premiums subscribed, the increase of taxes is insignificant, the National Commission of Financial Market CNPF) has said. The regulatory authority also said that the National Bank of Moldova collects a tax of 50,000 lei for the issuance of the licence for carrying out financial activity . At the same time, in Romania, the tax for the authorization of the insurer is of 40,000 RON (Romanian lei), which represents the equivalent of 170,000 Moldovan lei.  

The draft sets the classified list of documents which are to be annexed to the declaration for the issuance of the licence to insurer and the procedure of submitting the declaration, keeping record of the licenced insurers, extending the term of maintaining the suspension of the licence, completion and change of the grounds for the withdrawal of the licence and other actions. The draft also sees the establishment of the procedure of special supervision for the insurers who voluntarily submit the licence and do not transfer the insurance portfolio.    

The draft law is to be submitted to parliament for adoption.

(Reporter V. Bercu, editor M. Jantovan)