On 20 April 2016, the workshop on insurance legislation review and proposed modification was held. The event was organized by the EU-funded project “Support to the DCFTA process in the Republic of Moldova” (DCFTA project).
The workshop was intended to provide an initial informal presentation of certain key results of the mission to support the harmonization of the legal framework to the EU standards in the fields of insurance. The main areas of concentration were motor insurance, insurance accounting, the new Directive on insurance intermediaries and the Solvency II regime.
The workshop was conducted by the Short-Term Experts of the DCFTA project, Demetrius Andreas Floudas and Veaceslav Cernica.
In keeping with the agenda, the Experts presented the proposals for further modification of the Moldovan Law on Insurance (Law no. 407-XVI of 21.12.2006) and the Law onMTPL (Law No. 414-XVI as of 22.12.2006). They solicited the views of the industry professionals so as to forestall possible unforeseen negative impacts of the legislative review.
The attendees were given the opportunity to provide their input on selected topics of the legislative review which could prove controversial. The feedback received will be evaluated and in order to incorporate it as appropriate into the formal presentation of findings to take place on 25 April by the projects team of experts.
Please find attached below the presentation from the workshop: