An insured event has occurred. How to claim compensation correctly and which mistakes to avoid when dealing with the insurer
Automatically translated summary. The full text is available in Romanian.
An information note prepared under the National Financial Education Campaign, implemented by the National Bank of Moldova and Independent Think Tank “Expert-Grup”, explains how policyholders in Moldova should claim compensation after an insured event, and which errors to avoid when communicating with the insurer.
The claims process has several stages: reporting the event immediately, filing a claim with evidence, loss assessment, estimation, negotiation, payment, repair or replacement, and formal closure of the file. For compulsory motor third-party liability insurance, notification is due within 48 hours. Payment is due within 30 days if the file is complete and 90 days if it is incomplete, with a penalty of 0.1% of the compensation per day of delay. After the payment decision, the insurer has 7 days to pay.
Policyholders may negotiate the offer, hire independent experts or go to court. They should read documents carefully before signing them. Fraud is punishable under the Criminal Code; an estimated 14% of compensation paid in Europe is obtained fraudulently, and the situation is worse in Moldova. Policyholders should keep written records and may seek help from the insurance intermediary, a lawyer or the National Financial Market Commission (CNPF).
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