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From March 8, 2021, the maximum amount of compensation for damage during the peaceful settlement of an accident for owners of compulsory motor third party liability insurance and Green Card policies will be 15 thousand lei.

From March 8, 2021, the maximum amount of compensation for damage during the peaceful settlement of an accident for owners of compulsory motor third party liability insurance and Green Card policies will be 15 thousand lei.

The Administrative Council of the National Commission for the Financial Market approved the draft amendments to its resolution on the procedures for the peaceful settlement of a road traffic accident. The changes were required due to the fact that in March 2021, 2 years after the introduction of the peaceful settlement procedure for owners of compulsory motor third party liability insurance policies, the provisions of the legislation on the application of this procedure for the owners of Green Card policies come into force. The maximum amount of damages for the holders of the Green Card policy is set at 15 thousand lei. Accordingly, the maximum amount of damage in case of application of the procedure for the peaceful settlement of an accident involving a car owned or used by a person insured abroad will amount to 15 thousand lei. “We are talking about the settlement of an accident committed by a foreign citizen who owns the Green Card policy on the territory of Moldova.” For a peaceful settlement of an accident, a foreign citizen must apply to a correspondent insurance company appointed by his insurer in Moldova, or to the National Bureau of Motor Insurers, ”the NCFM said. The Commission also made a number of clarifications on the procedures for the peaceful settlement of road accidents for the owners of the "Green Card". At the same time, the NCFM increased from 10 thousand to 15 thousand lei the maximum amount of compensation for damage to the owners of the compulsory motor third party liability insurance policies in case of the application of the procedure for the peaceful settlement of an accident. The amendments introduced by the NCFM will begin to apply from March 8. It should be noted that initially, when discussing these amendments, the NCFM proposed to increase the maximum amount of compensation for damage during the peaceful settlement of an accident for owners of compulsory motor third party liability insurance policies to 15 thousand lei, and for owners of policies "Green Card" set at 25 thousand lei. The NCFM was guided by the indicators that insurance companies registered in the motor third party liability insurance system in 2015-2019. Thus, the average amount of damage under the compulsory motor third party liability insurance amounted to 14.2 thousand lei, and during this period it increased by 1.7 times - from 9.7 thousand to 16.13 thousand lei; the average amount of damage for the Green Card insurance amounted to 23.06 thousand lei (it increased from 22.97 thousand to 24.63 thousand lei). For 9 months in 2020, according to the NCFM, the amount of damage for the compulsory motor third party liability insurance amounted to an average of 14.5 thousand lei per insured event, and for Green Card insurance - 28.2 thousand lei. As a reminder, the procedure for the peaceful settlement of an accident is applied in the case of road accidents involving only two vehicles and only in the case of minor material damage. // 17.02.2021 — InfoMarket.

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