Moldovan carriers will pay less for Green Card

The Green Card or the International Car Insurance Card will cost twice less in the near future when a new methodology for calculating it, regulated by the National Commission on Financial Market (CNPF), starts to be used. The announcement was made by the Association of International Automobile Transport (AITA) at a general meeting of Moldovan carriers. According to the AITA president Valeriu Florea, the CNPF made such a decision recently, following requests from the carriers, who said that the insurance companies fix exaggerated prices for this type of insurance as there are no corresponding regulations. A Green Card insurance for a year costs between 1,400 and 1,630 euros for a truck. When the new methodology comes into force, the insurance will cost 640 euros on average. Last year, the Moldovan insurers paid two times less damages to the insured persons than the quota of 52% stipulated in the methodology, the AITA president said. The incomes collected by the insurance companies exceeded significantly the ceiling allowed, making up 72% of the insurance premiums, as against the 48% required, Valeriu Florea said. The new methodology for calculating insurance premiums will also include the internal civil liability insurance, which will also be cheaper. The insurance companies have not yet commented on the CNPF’s decision, which will come into force after published in the Official Gazette.