Compensation limit on road accidents to be 100,000 euros

Chisinau, 31 March /MOLDPRES/- Today, MPs approved a darft law on compulsory motor third party liability insurance. Thus, for material damages caused in one and the same accident, regardless of the number of injured parties, the compensation limit is set at a level of 100,000 euros.
The draft law was drafted by the National Financial Market Commission (CNPF) in collaboration with World Bank experts in the context of insurance market reform in Moldova.
According to the draft, the internal RCA insurance contract is concluded for a period of 12 months, and the external RCA insurance contract (Green Card) can be concluded for insurance periods of less than one year, but not less than 15 days, depending on the option of the insured. Payment of insurance premiums is made in full.
The RCA contract will be concluded between the insurer and the insured without indicating the persons allowed to use the vehicle, ie with an unlimited number of users. The claim can also be made electronically. The project also provides for the possibility of suspending the RCA contract at the request of the insured, if his license plates have been legally withdrawn.
For personal injuries and deaths caused by one and the same accident, the compensation limit is set for accidents at a level of 100,000 euros - for an injured party or at a level of 500,000 euros - regardless of the number of injured parties.
At the same time, non-pecuniary damage is foreseen.
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