Insurance Law

The Insurance and Pension Funds Supervisory Authority, («ASF») approved on 26 April 2022 the Regulatory Rule no. 4/2022-R, which establishes the general requirements and principles that should govern the development of the governance system to be implemented by insurance and reinsurance undertakings, including matters related to risk self-assessment and solvency, the prevention, communication and resolution of conflicts of interest, the policy for the prevention, detection and reporting of insurance fraud, remuneration and internal participation in irregularities.

The Regulatory Rule no. 4/2022-R revokes Regulatory Rule no. 14/2005-R, of 29 November, Regulatory Rule no. 10/2006, of 24 October, Circular no. 7/2009, of 23 April and Circular no. 1/2017, of 15 February.