POLICY WIN: AmCham Moldova welcomes the approval by the Parliament of the amendments to the Law 116/2012 on industrial safety of dangerous industrial objects by removing the ceiling for insurance coverage and claims!

POLICY WIN: AmCham Moldova welcomes the approval by the Parliament of the amendments to the Law 116/2012 on industrial safety of dangerous industrial objects by removing the ceiling for insurance coverage and claims!

• 06.02.2020

As these requirements were introduced in the law within an opaque consultancy process, their impact was destructive for the real sector of the economy, as the amount of insurance coverage and claims expressly stated in the law led to a significant increase of the insurance premiums (up to 40 – 100 times). The value of the insurance premiums for these policies were several hundred thousand or even millions of MDL, depending on the nature of the insured object and the category it belongs to, which could be a significant burden, especially on small and medium-sized businesses.

AmCham Moldova has been actively advocating for the removal of the provisions regarding the amount of insurance coverage ceilings through constant dialogue with the leadership of Ministry of Economy and Infrastructure, National Commission for Financial Markets, Economic Council under Prime Minister, Parliamentary Commission on Economy, Budget and Finance, and other stakeholders!