CBK decides to temporarily reduce the tariffs of motor liability border insurance

The Executive Board of the Central Bank of the Republic of Kosovo in the meeting held on July 29 has decided to temporarily reduce the motor liability border insurance.

This decision taken by the CBK management came after the review of the actuarial report dated 16 July 2020 of the Kosovo Insurance Bureau and the actuarial report of the CBK on the adequacy of border insurance tariffs from motor liability and it was assessed that there is a sufficient basis to change the rates of motor liability border insurance premiums for passenger vehicles and motorcycles.

Through this decision, the Central Bank of the Republic of Kosovo requests from the Kosovo Insurance Bureau that on behalf of its members, insurers licensed for compulsory motor liability insurance, to temporarily reduce the limits of motor liability border insurance tariffs for tariff groups of motor vehicles and motorcycles by 35 percent.

This decision also requires that the application of new border policy tariffs be implemented from 1 August 2020 to 31 December 2020.