MOLDOVA: Changes to the indemnity limits for MTPL and Green Card insurance

11 March 2021 — Alexandra GUZUN
Drivers from the Republic of Moldova will be able to receive higher compensation in case of a minor accident, as the National Financial Market Commission (NCFM) changes the maximum compensation limit for MTPL policy holders from RON 10,000 to RON 15,000.

Moreover, the amendament establishes for the holders of the Green Card certificate the maximum compensation limit of RON 15,000 at the conclusion of the amicable statement.

Thus, the Board of Directors of NCFM proposed the regulation of the draft amendment to Decision no. 37/14/2019 on "procedures for amicable finding of accident, resulting from the need to adjust the regulatory framework by regulating actions if the accident participant holds the Green Card insurance certificate.

"The adjustment made by NCFM of the compensation limit in case of insignificant accident is a good measure for the citizens, the amount of compensation that can be obtained based on the amicable statement has been increased, and as a result, the parties will document the road accident by amicable statement without police intervention. therefore, the traffic will be streamlined, and this simplified procedure offers the possibility to the victims to address directly to the insurance companies, respectively the processes for obtaining the insurance compensations will be facilitated. The resulting accident will also result in bodily injuries, even if the parties acknowledge the circumstances of the accident, the police will continue to appeal, "Alina OSOIANU, Executive Director of the National Bureau of Motor Insurers of Moldova (BNAA), stated for www.xprimm.md.

The novelty of this norm is that it also comes to regulate the amount of compensation in case of accident when a car is involved, for which the driver has a Green Card insurance policy. Citizens will have the opportunity to opt for a friendly statement when the culprit of the accident drives a vehicle registered abroad.

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