New rule on life insurance

The CBAK Governing Board in its meeting held on 17th December 2007 has approved a new Rule on Life Insurance.  The approval of this rule has created legal basis for establishment of the life insurance companies that will deal with the life insurance activities. Due to the lack of legal infrastructure, until now, Kosovo insurance market was not able to offer this insurance product.

The approval of Draft Rule on Life Insurance has enabled the extend of insurance activities in Kosovo; therefore citizens and businesses apart of other insurances products can also contract life insurance for themselves or on behalf of someone else, whereas as a beneficiary is considered the legal inheritor or any other person that is determined with the insurance contract.