Moldovan parliament adopts law on civil liability insurance for car owners for damages caused by vehicles

Chisinau, 21 April /MOLDPRES/ - The MPs today adopted the law on the civil liability insurance for car owners for damages caused by vehicles. The law will enter into force following the expiration of 12 months after the date of its publication in Moldova’s Official Journal. On this period, the supervision authority will bring its normative acts in line with the new law.    

The draft law’s goal is to adjust the legal framework to the EU provisions; the draft establishes the general and particular conditions of the covering of the civil liability insurance for car owners (RCA); the way and terms of payment of the insurance compensations. The draft has the goal to establish a clear and predictable mechanism of continuous monitoring of the market of civil liability for car owners through the instruments proper and specific for the financial sector.     

The most relevant elements included in the draft regard: special provisions on the suspension, resolution and ceasing of the RCA contract; norms on the way of enforcement of the RCA insurance; provisions on the legislation applicable depending on the place where the accident occurred; the mechanism of amicable ascertaining of the accident; the obligations of the RCA insurer as to the communication of the requester of the insurer of the quantum of the insurance premium, as well as other details dealing with the calculation of the insurance premium, coefficients of rectification, as well as the compulsoriness of the insurers to inform the sides about the settlement of the application on compensation.     

Under the document, the RCA internal insurance contract is concluded for a term of 12 months and the RCA external insurance contract (Green Card) can be concluded for insurance periods shorter than 12 months, but not shorter than 15 days, depending on the option of the insured person. The payment of the insurance premium is made fully.  

The RCA contract is made on paper or through technical electronic means in online regime and is concluded between the insurer and the insured person without showing the people allowed to use the vehicle, i.e. with a limitless number of users. And the application on compensation could be filled in through the use of electronic means.   

The limits of liability covered through the RCA insurance will be increased from one million lei to 100,000 euros, if the assets are damaged or destroyed. Also, for bodily injuries or death occurred in one and the same accident, the limit of compensation is established, for accidents at a level of 100,000 euros – for one aggrieved party or at the level of 500,000 euros – no matter the number of aggrieved parties, equivalent in Moldovan lei at the official exchange rate of the Moldovan leu, communicated by the National Bank of Moldova for the date when the accident occurred.   

A new chapter regards the payment of compensations for the moral damage, as a result of the injury or death of the people involved in the road accident.  

The organization and work of the National Office of Car Insurers (BNAA) are reset too. BNAA’s main duties represent the one of national car office – it ensures Moldova’s belonging to the Green Card International Insurances System and fulfills the obligations generally recognized for the authorized organizations from the member countries of this system. BNAA has its own structures, for fulfilling the duties of national car office, or organization of payment of compensations and organization of compensation: fund for protection of street victims and the compensation fund, through the contribution of all members, proportionally with the volume of gross premiums collected from the sale of RCA/Green Card contracts.    

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