Regional Conference on Insurance Markets in Central and Southeast Europe held
Tuesday, 11 November 2008
Organised by Insurance Agency of Bosnia and Herzegovina, on September 29, 2008 Regional Conference on Insurance Markets in Central and Southeast Europe is held in Sarajevo as the last activity of Twinning Light Project "Support to Insurande Agency in Bosnia and Herzegovina which lasted six months and implemented in cooperation with representatives from Republic of Bulgaria.
The hosts of the conference were Insurance Agency of Bosnia and Herzegovina and Financial Supervision Commission of Republic of Bulgaria whose directors Mr. Samir Omerhodžić and Mr. Apostol Apostolov addressed to the audience. On behalf of the European Commission, which was the financier of the entire project, and whose representatives were also at the conference, there was address by Mr. Ferdinand Kopp. The conference was also attended by representatives of financial institutions from the following countries: Montenegro, Macedonia, Albania, Hungary, Poland, Czech Rebublic, Bulgaria, Slovakia, Sweden... Active participation in the work of the Conference took representatives from the International Insurance Foundation represented by Mr. Robert Gibbons President of International Insurance Foundation, and Mr. Andre Swanepoel an expert in monitoring the solvency of IIF as well as the representatives from USAID.
In his introductory address at Conference on behalf of the Insurance Agency of Bosnia and Herzegovina, on the development of insurance and insurance prospects in Bosnia and Herzegovina, spoke dr.sci. Željko Šain, Head of Board of Directors of the Agency and mr.sci. Zlatko Murgić, Head of Department of International Cooperation, Finance, Statistics and Actuarial Activities using this opportunity to present the latest indicators of insurance market in Bosnia and Herzegovina and statistical publication for 2007 year.
Topics of the conference were formed into four panels and on each of them there were several speakers. In the first panel of contemporary regulation and development of the insurance market there was address by Mr. Robert Gibbons, CEO and president of the International Insurance Foundation and Ms. Ratka Celakovski, advisor in the Unit for Insurance Supervision of Department of the Financial System from the Ministry of Finance of the Republic of Macedonia.
The second panel presented the best practices for consumer protection and exchange of information between supervisory authorities which were delivered by Mr. Slavomir Stastny, Board Member of the National Bank of Slovakia.
Motor Third Party Liability Insurance and mechanisms on preventing uninsured driving were the themes of the third panel, and they were presented by the representatives of the European Commission Mr. Robert Mulac, Financial Supervision Commission of Republic of Bulgaria Ms. Ralitsa Agayn-Guri and Agency for Financial Supervision of Poland, Mr. Mariusz Smetek.
The fourth panel discussed the solvency regime and influence of the future European Union legislation, which was presented by Mr. Robert Gibbons CEO and president of the International Insurance Foundation and Mr. André Swanepoel an expert in monitoring the solvency of the International Insurance Foundation.
After each panel speakers were asked a lot of questions which resulted in quality discussions and potential solutions of mentioned problems depending on the specific regulations and laws in different countries of the region. The aim was to exchange opinions and experiences of participants in the insurance market, as well as representatives of other regulatory and supervisory authorities of Bosnia and Herzegovina, with representatives from the insurance sector of the Central and Southeastern Europe, what was fully accomplished by this Conference.
The deadline for receipt of tender applications on Insurance Agency of B&H Support Project - Twinning Light Fiche announced by the European Commission is Wednesday, 10 October 2007.
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