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Consumer Protection | Insurance

Insurance

Pursuant to the Insurance Law enacted in 2004, the NBS became responsible for insurance supervision. The Law introduced for the first time in Serbia the function of consumer protection through damage claims mediation, the purpose of which is to prevent disputes arising from insurance, and the consideration of complaints of policyholders, insurance beneficiaries and third party claimants. This function is entrusted to the NBS.

In the Decision on the Protection of Rights and Interests of the Insured, Insurance Beneficiaries and Third Party Claimants in Mediation for the Purpose of Settlement of Insurance Disputes, the NBS prescribed detailed methods and procedures for protecting the rights and interests of these persons.

In a bid to give additional contribution to the development of consumer protection, the NBS participated in establishing the Mediation Centre, in conformity with the Law on Mediation.

By enacting secondary legislation and starting mediation operations in December 2005, the NBS for the first time in Serbia introduced an alternative option for resolving disputes between claimants and insurance companies through mediation.

Mediation is an alternative way of resolving disputes, enabling parties to reconcile their interests which must be consistent with public order, regulations and sound business practices. It is also based on mutual concessions and coordination aimed at resolving disputes to the satisfaction of both parties, at lower cost and in much less time.

In protecting the rights of the insured, the NBS cooperates closely with representatives of insurance companies, which promptly respond to NBS requests and resolve the disputes at hand whenever possible.

The NBS has recorded positive results in implementing its consumer protection function and considering consumer complaints. For more information, please follow the link Learn More.

 

 

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