Address/Head Office: Bana Milosavljevića 8/II, 78000 Banja Luka

Tel/fax: 051/346-900

E-mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Web: www.azors.org

The RS Insurance Agency was founded in 2005 in accordance with the provisions of the Law on Insurance Companies (''RS Official Gazette'' Nos. 17/05, 01/06, and 64/06).

The Agency is run by the Managing Board comprising the President and four members, appointed and dismissed by the RS National Assembly.

The Agency is managed by the Director, who is also appointed and dismissed by the RS National Assembly.

Legal Framework:

1. Law on Insurance Companies (''RS Official Gazette'' Nos. 17/05 and 01/06)

2. Law on Insurance against Motor Liability and other Provisions on Compulsory Insurance against Liability (''RS Official Gazette'' Nos. 17/05 and 64/06)

3. Law on Insurance Intermediation (''RS Official Gazette'' Nos. 17/05 and 64/06)

Agency’s Responsibilities:

RS Insurance Agency regulates and supervises operations of the insurance companies and insurance intermediaries, and acts in the capacity of a supervisory institution in the insurance industry.

The Agency’s principal tasks, in line with the legal regulations, include:

• Issuance of licenses to insurance companies and insurance intermediaries (insurance agents and insurance brokers),

• Giving opinions on the insurance companies acts and decisions, which the latter are obliged to make pursuant to the Law (insurance conditions, tariff rates, rule books on the method of determining the unearned premiums and claims reserve, provisions for catastrophes, rule book on determining the mathematical reserve and its application in the area of life insurance, etc.), 

• Collecting, processing, and recording data submitted by insurance companies and insurance intermediaries in accordance with the regulations, 

• Supervising insurance undertakings, insurance intermediaries, and related entities in accordance with the regulations,

• Initiating and supervising the procedure of provisional administration, liquidation, bankruptcy, and rehabilitation of insurance companies,

• Revoking insurance and intermediation licenses in accordance with the Law,

• Bringing minor-offence and/or criminal charges in accordance with the insurance regulations,

• Issuing decisions regulating insurance companies’ operations, as well as operations of intermediaries and authorized actuaries in accordance with the Law,

• Other issues in accordance with the regulations.