According to The Supervision Authority in Chisinau, the eight company members of UAM - The Union of Moldavian Insurers, have proposed the postponement or the extension of the waiver regarding the application of stipulations concerning the elimination of the wear coefficient by three years: "This motion made by UAM members is still in discussion at the highest level - The Parliamentary Commission. If it is not approved, CNPF believes that the insurers can survive this reform without losses", explained Vladimir STIRBU, Director, The Supervision Division, CNPF.

Discussing the implications of this amendment, Vladimir STIRBU said that "we and the market operators have the same purpose - to develop the insurance industry by satisfying the customers' demands. As far as ageing coefficient is concerned, according to the AORCA law, the claim value is established according to the prices imposed by specialized units. The client's main interest is getting a full claim, and this can only be obtained by determining the real value of the loss through other instruments than the vehicle's wear."

At the same time, in order to limit frauds, in the case of old vehicles, the spare parts damaged in an accident will be replaced with second hand ones that have a guarantee certificate, or with after-market spare parts. "The injured client cannot count on the fact that, in the case of an old car, they can improve it after an accident. The abuses of policyholders can be prevented by improving the relationship between the insurer and the person that evaluates the loss", continued STIRBU.