Bad news: BQK plans to increase car insurance prices for 30 %

All damage left by the bankrupt company “Insig” will pay Kosovo citizens through increased vehicle insurance prices. This is one of the points through which insurance companies are rationalising the 30 percent increase in vehicle insurance prices, based on some documents provided by the Economic Bulletin.

The one-page plan, which argues, should have price hikes, is being made in co-ordination with the Central Bank of Kosovo.

According to documents provided by the Economic Bulletin, the person who will argue before the Central Bank of Kosovo has already been appointed, why increased vehicle insurance prices is necessary.

This is Sefik Grbovci, whose name figures as “certified by BQK”.

Grbovci's decision detailes his tasks in addition to the new situation created in the insurance market, including the bankrupt company “Insig”.

Grbovci has been acting certified and committed to performing official assessments for accounting for a change in insurance savings for the mandatory insurance product from auto responsibility TPL.

As the reason for rising prices in the market, the documentation provided is mentioned in the bankrupt company “Insig”.

The Economic Bulletin has waited several days for the Kosovo Central Bank to clarify this plan, but its officials have been unwilling to speak.

Otherwise, insurance companies have taken the initiative to increase vehicle insurance prices on behalf of financial obligations that have been added to the company's bankrolling “Insig”.

Based on the Law on Obligational Security, each insurer has the right to apply for approval or change of TPL security tariffs, for which any estimates should be in full harmony with the rules specified by the Central Bank of Kosovo. These rules include determining the ping structure, the minimum or maximum limit, or the other one within which the prime one should be, as well as the technical basis which should be used by the provider in case of a security count.