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- Title
COMPULSORY INSURANCE IN KOSOVO AND CHALLENGES IN IMPLEMENTING THE EU INSURANCE DIRECTIVES.
- Authors
MAZREKU, Ibish; ÇEKU, Orhan M.
- Abstract
One of the areas that have revolutionized the field of economy and delivering services is the insurance field. This is a field which brings numerous benefits to companies, but also has major economic repercussions throughout the country. Because of its importance, each country regulates this field with positive legislation. The set of laws and other legal acts regulating insurance, in the law area is called "Insurance Law". The legal framework in the field of insurance in Kosovo has advanced in recent years. Kosovo Assembly has enacted laws and replaced UNMIK regulations454, and in this regard CBK455 through its own resources and capacities and in close cooperation with technical assistance provided by the World Bank, USAID456 and the IMF457, has made significant progress in implementing of legal regulations in this field. The main field of study in this research paper will be compulsory insurance with special emphasis on Compulsory Insurance from Insurance for the third parties. The paper analyzes insurance from the third parties which is legal and economic institute and a complex mechanism that aims to make the transfer of risk from the individual to a legal organization, economic and financial, with technically organized activities. Also in this paper we present the regulation of compulsory insurance of the third parties in the region, Albania and Macedonia and EU Directives adopted and which can be incorporated in Kosovo legislation for the field of insurance from the third parties. All laws passed to regulate the field of insurance from the third parties have a positive impact on the functioning of the insurance business in Kosovo.
- Subjects
INSURANCE; INSURANCE policies; INSURABLE risks; INSURANCE claims; INSURANCE law
- Publication
Vizione, 2014, Vol 21, p329
- ISSN
1409-8962
- Publication type
Article