Moldova's insurance sector will be modernized and aligned with EU standards, minimum capital requirements for insurance companies will be updated, and compulsory motor third-party liability insurance (CMTPLI) tariffs will be liberalized
The NBM announced this, noting that this is, among other things, included in two draft laws developed by the National Bank of Moldova and promoted by the Ministry of Finance. The documents are being submitted for public consultation in accordance with the principles of transparent decision-making and the public interest. They propose an updated regulatory framework with clear deadlines for entry into force in 2028–2029, without immediate changes for consumers and the insurance market. The National Bank's initiative aims to strengthen the stability of the insurance market, protect policyholders, and gradually bring it closer to European practices. Specifically, the draft new Law on Compulsory Motor Third-Party Liability Insurance aims to align Moldovan regulations with EU regulations and clarify the roles of institutions involved in this area. Specifically, it defines the responsibilities for overseeing insurance companies, exercised by the National Bank, and responsibilities related to contractual relations with clients, regulated by the National Commission for the Financial Market, including the process of determining and paying compensation. The bill also provides for a transition to a system of freely setting rates for motor vehicle liability insurance in line with European practice, as well as updating compensation limits to ensure that injured parties receive a higher level of protection. At the same time, it will create the foundation for the development of a modern information system for compulsory motor vehicle liability insurance (CMTPLI), which will enable the centralized registration of insurance policies and claims, contributing to increased transparency and efficiency in the motor vehicle insurance market. The bill has been developed with a clear implementation schedule, allowing the market the necessary time to adapt. The provisions of the law will enter into force in two years, and the provisions on a single premium, which will apply to both CMTPLI and the Green Card, will only become applicable after Moldova's accession to the European Union. Herewith, the draft new Law on Insurance and Reinsurance Activities aims to make the Moldovan insurance market significantly safer and more stable for consumers. According to the NBM, the new rules require insurance companies to be more highly capitalized, better organized, and managed in accordance with the highest standards so they can fulfill their obligations to clients, including the payment of compensation. These measures enhance policyholder protection and market stability in line with European practices. In this context, the draft law establishes clear rules for the governance of insurance companies. These are aimed at responsible management, careful risk management, and a transparent shareholder structure to ensure that decisions are made in the interests of clients and market stability. Meanwhile, adapted rules are provided for smaller companies or companies with simpler operations, ensuring that requirements are applied proportionately, without creating undue pressure. The document also provides for an update to the minimum capital requirements for insurance companies depending on the type of activity they carry out. These requirements are aimed at ensuring that insurance companies have sufficient financial resources to fulfill their obligations to clients. The implementation of the new requirements is envisaged in stages. Once the law comes into force, companies will be required to comply with most of the established requirements, with full compliance to be achieved at a later stage. The law is expected to come into force on January 1, 2029. // 24.02.2026 — InfoMarket.
