Capital market watchdog approves by-law on protecting 'street victims'
The Financial Market National Commission (FMNC) has approved a regulation on the protection fund of the street victims. The decision was made on April 9, “in order to insure the good functioning of the car accident insurances, meant to protect the people damaged in vehicle accidents whose owners did not pay the insurances,” reads a communique by the FMNC, quoted by Info-Prim Neo.
Th regulation establishes the way of creating the Fund of protecting the street victims, the destination of the financial means going into the fund, the way of the insurers reporting to the Car Insurers National Bureau, and the way of managing and using the money from this Fund.