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with regard to the insurance broker's prescription of "INSTANT ASIG" S.R.L. to present specialized reports
Published: 18.03.2016 in Official Gazette No. 59-67 art No.: 421 under supervision of compliance with legislation mode in insurance, it was found that the Insurance Broker "INSTANT ASIG" S.R.L. has not presented within specialized reports relating to the main activity of the intermediary in insurance and/or reinsurance and intermediary activity in insurance and/or reinsurance through their own personal assistants in brokerage and/or subagenţi in accordance with Annex 2 and annex 3 to the Decision of the National Commission of financial market nr. 45/5 of October 16, "approving the form and content of reports of insurance intermediaries and/or reinsurance" (Official Gazette of the Republic of Moldova, 2009, nr. 196-200, 877), thus being admitted to violating the provisions of article 49 paragraph 3. (2) (a)) and paragraph 3. (8) of law No. 407-XVI dated 21.12.2006 "insurance" (Official Gazette of the Republic of Moldova, 2007, no. 47-49, art. 213) (hereinafter referred to as Law No 407-XVI dated 21.12.2006).
Concluding from the aforesaid, pursuant to article 54 paragraph 1. (1), article 55 para. (1) letter b), para. (2) and paragraphs 1 and 2. (3) of law No. 407-XVI dated 21.12.2006, article 8 b) and paragraph 2 of point f), art. 9 para. (1) d) and subparagraph (c)), para. (2) of law No. 192-XIV of 12.11.1998 "Concerning the National Commission for financial market" (Official Gazette of the Republic of Moldova, 2007, nr. 117-126 BIS), the NATIONAL COMMISSION of FINANCIAL MARKET DECIDES: 1. Prescribing persons with Insurance Broker liability of "INSTANT" S.R.L. INSURED within 3 working days to ensure the submission of reports on the main activity of the intermediary in insurance and/or reinsurance and reports relating to the main activity of the intermediary in insurance and/or reinsurance through personal the brokerage's own assistants and/or subagenţi, to 31.03.2015, from 30.06.2015, 31.12.2014, 30.09.2015 respectively, requested by 31.12.2015 National Commission of financial market under supervision.
2. the Insurance Broker warns "INSTANT ASIG" S.R.L. with sanctions by withdrawing the licence issued in respect of the right to carry out the activity of intermediation in insurance, in the event of the provisions of section 1.
3. The control over the execution of the given decision is put in charge of the Directorate-General's insurance supervision.
4. this decision shall enter into force in accordance with article 22, paragraph 2. (3) of law No. 192-XIV of 12.11.1998 "Concerning the National Commission for financial market".
VICE-CHAIRMAN of the NATIONAL COMMISSION of FINANCIAL MARKET Karen Fahie
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