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The National Financial Market Commission (CNPF) has approved a decision allowing the cost of Compulsory Motor Third Party Liability (CMTPL) insurance to go up 36%.

The National Financial Market Commission (CNPF) has approved a decision allowing the cost of Compulsory Motor Third Party Liability (CMTPL) insurance to go up 36%.

The corresponding CNPF resolution will take effect after the publication in Monitorul Oficial (the Official Journal of Moldova). In particular, the CNPF leadership at the session of August 9 made amendments to its resolution on the procedure of presentation, coordination and application of actuarial calculation of insurance premiums for CMTPL insurance. They concern the adjustment of the formula for calculating the basic insurance premium, set depending on the adjustment coefficients and the bonus-malus system. According to calculations made in accordance with the unified methodology of calculation of the basic insurance premium and adjustment coefficients based on statistical data on CMTPL, the amount of basic insurance premium on CMTPL will increase by about 36% - from 995 to 1350 lei. Accordingly, the cost of CMTPL insurance policies will also increase. // 10.08.2022 - InfoMarket.

News on the subject

In Moldova, the cost of compulsory domestic motor third party liability insurance policies may increase.
In Moldova, the cost of compulsory domestic motor third party liability insurance policies may increase.
Moldovan government supports the digitization of the CMTPL policy and a 10-fold increase in fines for not insuring motor vehicle liability.
Moldovan government supports the digitization of the CMTPL policy and a 10-fold increase in fines for not insuring motor vehicle liability.
Moldovan government supports the digitization of the CMTPL policy and a 10-fold increase in fines for not insuring motor vehicle liability.
Moldovan government supports the digitization of the CMTPL policy and a 10-fold increase in fines for not insuring motor vehicle liability.
The AITA Association will allocate 15 million lei for the capitalization of the insurance and reinsurance company Moldcargo.
The AITA Association will allocate 15 million lei for the capitalization of the insurance and reinsurance company Moldcargo.
CNPF revoked Moldova-Astrovaz's license for insurance activity.
CNPF revoked Moldova-Astrovaz's license for insurance activity.
In the first quarter of 2022, the net profit of insurance companies (before tax) amounted to 83.8 million lei, an increase of 2.3 times compared to the same period last year.
In the first quarter of 2022, the net profit of insurance companies (before tax) amounted to 83.8 million lei, an increase of 2.3 times compared to the same period last year.