Beginning on July 28, new forms are being implemented for third-party liability insurance (TPLI). The new mandatory motor insurance will contain a QR code by which the policy holder can check its validity and the bonus-malus class, calculate the insurance premium, find out the damage history and obtain the damage certificate.

The National Commission of the Financial Market says that the forms for the conclusion of TPLI contracts, internal and external TPLI contracts, as well as TPLI policy have been updated. “The implementation of these new forms aims to strengthen the new legal framework in the field of compulsory TPLI and favors the digitization of the procedure for concluding contracts”, the Commission said in a press release.

For the first time, the claims for compensation and the record of damage assessment will have a unique format for all insurance companies in Moldova and the National Bureau of Auto Insurers. Whereas until now the claim for compensation and the report were prepared individually by each insurer, containing different information, with the implementation of the forms approved by the National Insurance Commission, the aim is to increase transparency regarding the methods of payment of insurance compensation and to standardize the process of ascertainment and assessment of damages.

The standardized forms, as well as the instructions for completing them, can be accessed on the website of the National Financial Market Commission under “Consumers”.

The implementation of the new forms will not affect previously concluded insurance contracts, which remain valid until their expiry.