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Projects
Monday, 22 April 2013

 

The Insurance Agency of BiH pursues active policy for building of stable relations of cooperation with the supervisory authorities from other countries. This policy is realized by the implementation of different projects.

 

Twinning light project

 

Twinning light project BA06 IB OT 07 TL Support to the Insurance Agency of Bosnia and Herzegovina

The twinning light project was financed under CARDS 2006 to the total amount of 250 000 Euro. The duration of the project was 6 months. The implementation started in March 2008 and ended December 2008. The Member State Partner on the project was the Financial Supervision Commission of Republic of Bulgaria.

The overall objective of the project was to stimulate the development of a single insurance market in Bosnia and Herzegovina, to ensure efficient and transparent insurance regulation, monitoring and coordination, arbitration, transparent information sharing and reporting.

The Twinning Light Project provided services to the Insurance Agency of Bosnia and Herzegovina (IAB&H) in the following fields: 

  • Drafting regulations for the statistical service activities of the IAB&H;

  • Review of all Entity regulatory provisions, legislation, by-laws, regulations or procedures  and providing recommendations for their harmonization with the legislation of the European Union;

  • Development of  reporting templates and guidelines for the IAB&H for the Agency's reporting responsibilities towards the European Commission and other international bodies;

  • Drafting of a training plan for the IAB&H staff based on the tasks of the Agency and implementation of selected training.

  • Providing advice for possible solving of the current issues pertaining to the supervision of insurance undertakings and the interests of the consumers of insurance services in the Administrative District of Brcko.

Project Events

Twinning project

 

Twinning project BA 07 IB FI 01 EU Support for Sustainable Capacity Building of the Insurance Agency of Bosnia and Herzegovina, the Insurance Supervisory Agency of the Federation of Bosnia and Herzegovina and the Insurance Agency of the Republic of Srpska

Twinning project BA 07 IB FI 01 is logical continuation of the successfully completed in 2008 Twinning Light project Support of the Insurance Agency of Bosnia and Herzegovina.

The Twinning project BA 07 IB FI 01 is financed by the EU Programme Instrument for Pre-accession Assistance (IPA) for 2007 to the total amount of Euro 800 000. The Member State Partner on the project is the Financial Supervision Commission of Republic of Bulgaria. The project was launched on 21 April, 2010. The duration is 27 months.

The main areas of project’s activities are directed to:

  • Strengthening of the administrative capacity of the insurance agencies;

  • Development of the exchange of information and statistical services;

  • Development of the regulatory and supervisory practices;

  • Civil liability insurance and interaction with the Green Card Bureau.

Six additional activities were included in the project, directed to development of the IABiH functions in the field of the export insurance.

 

In brief - Results - Impact - Project Events

Liberalizing MTPL

 

Liberalizing MTPL Insurance Market in BiH

The main objectives of the proposed project are:

  1. to assist the Insurance Agency of Republic of Srpska (IARS) and the Insurance Supervisory Agency of Federation of BiH (ISAFBiH) with the liberalization of the MTPL insurance market in Bosnia and Herzegovina;
  2. to develop the regulatory framework and technical tools necessary for actuarially sound setting of premium rates and technical reserves for MTPL insurance;
  3. to ensure that the proposed regulatory framework for the MTPL insurance market in BiH is in compliance with the EU MPTL insurance legislation, specifically with the commitments of Stabilization and Association Agreement with European Union and that it properly accounts for the best international practices in liberalizing the MTPL market.

In the short-run, the project is expected to develop a detailed road map and “know-how” on the liberalization of the MTPL insurance market in the BiH. In the long-run, the project is expected to be instrumental to the implementation of the proposed market liberalization strategy, improved MTPL pricing and reserving practices, and ultimately major improvement in the overall technical fundamentals of the insurance market in both RS and the Federation of BiH.

 

Project Events

 

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PUBLICATIONS

2016 Statistics of Insurance Market in BiH

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