Palata Narodne banke, izgrađena u stilu neorenesansnog akademizma, predstavlja jedno od najvećih i najlepših ostvarenja u Beogradu u 19. veku, zbog čega je svrstana u spomenike kulture pod zaštitom države...
06.04.2005.
Upon receipt of notice that the implementation of the provision on determining the automobile liability premium, envisaging the application of bonuses and maluses, has been suspended, which is contrary to the standards of practice of the insurance business, NBS has pointed out to the Association of Insurance Companies of Serbia and Montenegro the inadequacy of the passed decision, although pursuant to applicable regulations it is not authorized to determine or give consent on the determination of the automobile liability premium. The National Bank of Serbia has suggested that additional analysis and assessment of the necessary increase in premium be effected, which would mean that insurance companies actually settle their liabilities in respect of the issued policies which has so far infrequently been the case.
Namely, as existing policy prices are insufficient for insurance companies to actually cover incurred claims, and insurance companies record negative results in respect of compulsory automobile insurance, it is not economically justifiable for them to perform these activities.
Since the objective of NBS is to ensure the safety of the insurance sector and protect the interests of policyholders and third damaged parties, NBS has made a suggestion in connection with a new decision whereby bonuses would be retained and reduced from 30% to 20%. The result of this would be an increase of automobile liability premium by a mere 14.3% instead of the planned 42.8%, which would otherwise result from a total abolition of the bonus.
NBS would like to point out that future legislation that is currently being drafted will envisage the obligation to obtain prior consent of NBS for any increase in compulsory insurance policy prices.
Press Release from Governor’s Cabinet
