Moldova experiences a confidence deficit in the cooperation with the Green Card system and has been thus monitored during the past three years. National Commission for Financial Markets president Valeriu Chițan, in a meeting chaired by Prime Minister Ion Chicu, informed that a report will be presented at the next meeting of the system’s Monitoring Committee and it will be announced then if Moldova will keep the right to issue Green Cards or not, IPN reports.
According to the Government’s press service, the confidence deficit is due to the fact that many of the Moldovan insurance companies that issue Green Cards are undercapitalized and allow overdue payments for insured events.
Of the 13 operators working on the insurance market, nine issue Green Cards.
The participants in the meeting said that a guarantee fund should be created for Moldova to keep the right to issue Green Cards. Until this is created, the insurance market operators should obtain a sufficient bank guarantee for restoring the credibility of the system.
