MOLDOVA: Parliament increases insurance benefits on damaged cars

9 May 2012 —
The Parliament has decided to build up the amount of insurance benefits on cars insured in case of their damaging.

In a parliamentary meeting that adopted the respective amendments, Chair of the parliamentary Standing Committee for Economic Policy, Budget and Finance, Veaceslav Ionita, said a formula for assessing the wear-off of cars insured to establish insurance compensations was introduced five years ago that considerably reduced insurances paid.

"To date, one drafts a regulation, in conformity with which the sum paid to insured persons will correspond to the damage, and insurance benefits will be paid in full for 3-4-year-old cars. Other good news is that insurance will not grow in price", Ionita said.

The MP said that another amendment will make insurance companies pay compensations, and only if a court recognizes the client guilty of a road accident, they will have to return the money to insurers", he said.

The specialist said the Parliament will allow not only insurance companies, but also savings and credit associations to sell insurance policies.

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MOLDOVA: Parliament increases insurance benefits on damaged cars
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