ECONOMIC CHAMBER OF MACEDONIA Insurance Companies Association

Transcription

1 Quality Management FS ECONOMIC CHAMBER OF MACEDONIA Insurance Companies Association bsi. ISO 9001 The insurance sector provides reimbursement in cases of damage caused by natural disasters and accidents to the economy or the households in a society. The Insurance Companies Association within the Economic Chamber of Macedonia was formed on 22 February This Association gives its members the opportunity to make independent decisions and perform activities they believe are of interest to their work. Insuring risk, as well as avoiding it, mitigating its impact or transferring it, reduces the level of uncertainty felt by individuals or organizations. Insurance is a form of intelligent risk management and an important prop on the way to stability and development.

2 Main goals and tasks of the Insurance Companies Association The Insurance Companies Association s work is based on the following objectives and tasks: Looking into matters related to promoting operations and resolving current issues in its field, organizing promotional activities and trade fairs, exhibitions, visits by business delegations of special interest to the Association and its members; Reconciling existing discrepancies and differing interests within the said field of operations, bearing in mind the interests of the economy as a whole; Adopting conclusions and proposing measures of mutual interest to the members which at the same time are not contrary to the positive legal regulations and good business practices in our country; A president of the Association is elected for a 5-year term of office and can be reelected after the end of his or her mandate in line with the Association s Rules of organization and methods of operation. Trajce Latinovski, President of Triglav Osiguruvanje AD, was elected as second president of the Association on 17 May Ilo Ristovski, representative of Sava Osiguruvanje AD was elected as president of the Association at the last election on 8 July Looking into draft laws and other regulations, giving opinions and proposals on issues of mutual interest to the members and launching initiatives for adopting, amending and supplementing regulations; Developing the business climate in the country, encouraging implementation of European rules and standards, functional education and innovation as part of the skills of professionals in the field. The Insurance Companies Association has 14 member companies. Ten member companies work in the sector of general insurance and four member companies work in the sector of life insurance. Other institutions that are part of the insurance system in the Republic of Macedonia partake in the Association s work, including the Insurance Supervision Agency (a national regulation body), and the National Insurance Bureau. Two commissions were formed as part of the Insurance Companies Association in line with the conclusions of the Association s session held on 25 April 2012: Commission on Life Insurance, comprised of our member companies working in the life insurance field and Commission on Pension Insurance, comprised of two associations working in the field of pension insurance, included in the second and the third pension pillar. Pursuant to an initiative launched by this Commission, it was transformed into an Association of Companies for Private Pension Funds Management of the Republic of Macedonia within the Economic Chamber of Macedonia. Main goals and tasks of the Insurance Companies Association 2

3 Insurance Market in the Republic of Macedonia Insurance Market in the Republic of Macedonia IInsurance is a method of providing cash assets by pooling funds. This is done either on a voluntary or mandatory basis; it is an organized form of collecting cash assets intended for insurance (an insurance fund) done in line with the principles of reciprocity and solidarity i.e. of joining assets with the help of specialized institutions acting as intermediaries. The structure of the insurance system of the Republic of Macedonia rests on the Law on Insurance Supervision complemented by other laws and bylaws that are harmonized with EU s insurance legislation. In line with the Law on Insurance Supervision, insurance companies in the Republic of Macedonia are set up as Macedonia-based joint stock companies. The work licence for such companies is issued by the minister of finance. Both domestic and foreign natural and legal persons may set up an insurance company by adopting a decision to establish such a company and investing startup capital in the company s initial fund. A joint stock company for insurance performs activities related to: developing insurance conditions; forming tariffs on insurance premiums; providing protection via use of coinsurance and reinsurance; constantly monitoring the technical result of all types of insurance; taking measures regarding tariffs on premiums; constantly monitoring overall operations on the market; taking measures to enable sustainable task performance; 3

4 developing general acts; performing a series of other activities that improve the general operations and success of the Insurance Companies Association as a whole; The business units of a joint stock company for insurance perform the following operational tasks: conclude insurance contracts; define separate risks in the insurance and reinsurance sectors; review, assess and liquidate damage; invest and allocate cash assets. Insurance companies in the Republic of Macedonia are divided in two groups: companies that offer general insurance and companies that offer life insurance. Companies that offer life insurance have policies for temporary and permanent life insurance, which include universal life insurance policies, accidental death insurance policies, combined insurance, policies that offer growth potential based on market performance and a number of other policies. Companies offering non-life insurance policies divide their services in several classes, namely: insurance of motor vehicles - provides financial protection for self-propelled motor vehicles excluding watercraft, aircraft and road-rail vehicles for which there are separate insurance policies; property insurance - provides protection against risks to property due to natural disasters, thefts, damage caused by household appliances and installations and other risks covered with the insurance policy; insurance against accidents - covers unforeseen and undesirable events whose occurrence is mostly unexpected and which cause physical injuries to the policyholder or lead to his or her death, disability, temporary inability to work or health issues that require medical and professional treatment; travel insurance - provides protection and insurance during a temporary stay abroad and covers medical expenses resulting from the need to receive urgent medical treatment due to an accident or unexpected illness; Insurance Market in the Republic of Macedonia 4

5 Insurance Market in the Republic of Macedonia 5 shipping insurance - providing reimbursement to senders whose goods are lost, stolen or damaged in transit, including land, air or water transport; general liability insurance - covers citizens liabilities for damages caused to third parties while providing a service, or through property ownership, legal relations or a certain feature that is a source of risk; professional liability insurance - provides insurance in case of a civil action against a person who provides certain services filed by his or her client due to a professional error or material damage caused while providing the service; this type of insurance is compulsory for a large number of professions; agricultural insurance - offers protection against loss of crops, yield and livestock in cases of natural disasters (according to the Republic of Macedonia s legal provisions, 60% of the insurance premium in such policies is subsidized by the state); additional health insurance - covers services not covered with the compulsory health insurance, including one-time disability compensation, reimbursement of hospital treatment costs, or a combination of these two. The Insurance Supervision Agency (ISA) is the key state regulatory body that controls the insurance market in Macedonia. The Insurance Supervision Agency was established as an independent body whose competence and authorizations are in the field of guaranteeing lawful and efficient functioning of the insurance market for the purpose of protecting policyholders rights. The Agency manages to achieve its goal by creating a modern and efficient insurance sector that offers high-quality insurance services and contributes to its overall advancement.

6 Members of the Insurance Companies Association (alphabetically ordered) No. Insurance company Contact 1. ALBSIG AD EUROLINK OSIGURUVANJE AD GRAVE OSIGURUVANJE AD INSIG MAKEDONIJA AD KROACIJA OSIGURUVANJE ZIVOT AD KROACIJA OSIGURUVANJE AD - DRUSTVO ZA NEZIVOTNO OSIGURUVANJE AD OSIGURITELNA POLISA AD Osiguruvanje MAKEDONIJA AD - Vienna Insurance Group Address: ul. 1737, 32/1, local 45, Telephone: +389 (2) Fax: +389 (2) Website: Address: ul. Nikola Kljusev 2, Telephone: (2) Fax: (2) Website: Address: ul. Pirinska 23, Telephone: (2) Fax: (2) Website: Address: ul. Dame Gruev 5/8, Telephone: (2) Fax: (2) Website: Address: Mito Hadzivasilev Jasmin 20, sprat 2, Telephone: (2) (2) Fax: (2) Website: Address: ul. Mito Hadzivasilev Jasmin 20, 2 kat, Telephone: (2) Fax: (2) Website: Address: bul. Sveti Kliment Ohridski br. 26, Telephone: (2) (2) Fax: (2) Website: Address: 11 Oktomvri br. 25, Telephone: +389 (2) Fax: +389 (2) Website: Members of the Insurance Companies Association 6

7 No. Insurance company Contact 9. SAVA OSIGURUVANJE AD Address: Zagrebska 28 a, Telephone: +389 (2) Fax: +389 (2) Website: Members of the Insurance Companies Association TRIGLAV OSIGURUVANJE AD UNIKA DRUSTVO ZA ZIVOTNO OSIGURUVANJE AD 12. UNIKA AD WINNER OSIGURUVANJE DRUSTVO ZA NEZIVOTNO OSIGURUVANJE AD WINNER OSIGURUVANJE DRUSTVO ZA NEZIVOTNO OSIGURUVANJE AD Address: bul. Oktomvriska revolucija bb (Hyperium building) Telephone: (2) Fax: (2) Website: Address: bul. Marks i Engels 3, Telephone: +389 (2) Fax: +389 (2) Website: Address: bul. Marks i Engels 3, Telephone: +389 (2) Fax: (2) Website: Address: ul. Vladimir Komarov 11a, Telephone: (2) Fax: (2) Website: Address: ul. Vladimir Komarov 11a, Telephone: +389 (2) Fax: +389 (2) Website: No. Cooperating institutions Contact NATIONAL INSURANCE BUREAU AD INSURANCE SUPERVISION AGENCY Address: bul. Mitropolit Teodosij Gologanov 28/3, Telephone: +389 (2) Website: Address: ul. Vasil Glavinov 12, TCC PLAZA, 2nd floor, Telephone: (2) Fax: (2) Website: 7

8 Members of the Insurance Companies Association ГРАВЕ осигурување ад Скопје КРОАЦИЈА ОСИГУРУВАЊЕ - ЖИВОТ АД за осигурување Живот CROATIA OSIGURANJE utemeljeno 1884 КРОАЦИЈА ОСИГУРУВАЊЕ А.Д. ОСИГУРИТЕЛНА ПОЛИСА НАЦИОНАЛНА ГРУПАЦИЈА ЗА ОСИГУРУВАЊЕ Акционерско друштво Член на групацијата Сава Ре Publisher: Economic Chamber of Macedonia Dimitrie Cupovski Republic of Macedonia Phone: Fax: ic@mchamber.mk Text: Snezana Kamilovska LL.M. Editor in Chief: Savo Pejcinovski Insurance Companies Association Jelisaveta Georgieva M.E. Phone: Fax: jelisaveta@mchamber.mk Web: Snezana Kamilovska LL.M. Phone: Fax: snezana@mchamber.mk Web: Translator: Elena Volkanovska Graphic design and editing: Stevo Serafimov