The new compensation scheme will cover victims who reside in or hold a residence permit in the Republic of Moldova, as well as affected residents of EU member states. In this regard, the new entity will enter into international cooperation agreements with similar organizations in Europe.
The Fund’s primary source of funding will be monthly contributions from insurance companies providing compulsory motor third-party liability insurance (OSAGO) and “Green Card” coverage. Two types of contributions are envisaged: regular contributions, calculated monthly at a rate of up to 10% of accumulated gross premiums, and supplementary contributions, which will be collected only as needed and subsequently returned to market operators. The Fund will also be able to accumulate funds by investing its existing assets, interest, penalties, or loans.
The bill was drafted by the National Bank of Moldova and is currently undergoing public consultation. The entire package of regulatory acts is scheduled to take effect on September 30, 2029.
