Good News for Accidentless Drivers

Compulsory motor security will be paid on the basis of the personal history that everyone has in the direction of the vehicle.

The authority responsible for overseeing the insurance market has handed over to the government the new bill, which must be approved by it and by Albania's Parliament. At the heart of the differences is exactly what is called the “bondus-malus” system.

The “for each citizen will be paid security priority based on its history as tool manager. So, who has made the most accidents will pay more and who has done the least accidents will pay less the value of security police”, says Financial Supervisory Authority head Ervin Koci.

The new law increases values that can benefit those affected, while companies will be limited to spending they will make out of the voice of compensation.

“We have increased the responsibility limit for a security event by about 1.7 times and while for a citizen, which may be damaged by an accident event has increased by 2.5 times that citizens can benefit more and this will be accompanied by regulation changes”, Koci adds.

The AMF has a five-year strategy for the entire insurance market. Currently, our country takes the last place in the region in terms of the sector, and its primary weight keeps mandatory insurance at 92 percent of the market, while voluntary security is only 8 percent.