MOLDOVA: an important step for market liberalization to take place July 1st

30 May 2019 — Marina MAGNAVAL
On July 1, 2019, insurance market liberalization begins in Moldova. After this date insurance companies will independently set tariffs for MTPL and Green Card, which are currently set by the supervisory authorities, Sputnik Moldova news agency reports.

According to Tatiana CIOBANU, Head of the General Insurance Department of the National Financial Market Commission (CNPF), liberalization of the insurance market in the country will be carried out step by step, to maintain order and prevent functional issues that could cause bankruptcy for some insurance companies.

As CIOBANU explained, "The Moldovan insurance market is fragile. We have a plan of action to be completed by July 1, based on which necessary changes should be introduced in insurer activity. These companies will have to strengthen their potential in order to undergo liberalization without any shocks", she said.

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