The National Commission for Financial Markets (CNPF) has approved the Regulation on Direct Settlement for Compulsory Motor Liability Insurance (RCA), bizlaw.md writes.

The document establishes rules for cooperation between insurers working with RCA, covering procedural stages, the mechanism for collecting and compensating paid amounts, and the terms of payments between insurers.

According to the CNPF, implementation of this mechanism could help simplify the claim management process and better tailor RCA insurance to the needs of injured parties.

Furthermore, amendments have been made to the forms used in motor vehicle liability insurance to reflect the possibility of direct settlement and ensure compliance with the new provisions.

The draft has been submitted for public consultation, and the new provisions will enter into force within six months of their publication in the Official Gazette of the Republic of Moldova.