Legal Changes in Moldova
There is a significant change in the legal framework of the R. Moldova:
- New Law on insurance no. LP92/2022 of 07.04.2022 regarding Insurance and Reinsurance operation
- New Law no. LP106/2022 of 21.04.2022 on Motor Third Party Liability Insurance
The following new issues have been included in the New legal framework:
Law no. LP92/2022 of 07.04.2022 regarding Insurance and Reinsurance operation
Enter in force on 1st January 2023
The document was developed by the National Commission of the Financial Market with the technical assistance of World Bank experts, within the “Reform of the insurance market in Moldova” project, and aims at the partial transposition of Directive 2009/138/CE of the European Parliament and of the Council of 25.11.2009 regarding the access to the activity and the development of the insurance and reinsurance activity.
The basic object of the project is the consolidation of the insurance sector and the preparation of the market for Solvency II, as well as the implementation of internal governance and risk management requirements by insurance companies.
Law no. LP106/2022 of 21.04.2022 on Motor Third Party Liability Insurance
Enter in force on 1st April 2023
The most relevant elements included in the draft concern:
- Special provisions regarding the suspension and cancelation of the MTPL contract;
- Provisions regarding the applicable legislation depending on the place of occurrence of the accident;
- The mechanism of amicable accident settlement;
- Digitalization of the MTPL policy issue
- Unlimited number of insured persons
- The earliest inception date is the date after the policy issue
- The increased limit of liability up to 100,000 EUR for material damage euros, and 100,000 EUR per person for bodily injuries up to 500,000 EUR per event
- Previously not insured, moral hazard is covered for a limit up to 5000 EUR per person/10000 per event in case of death or disability.
Paternity Leave Legislation in Croatia (2022)
The government of Croatia recently passed new legislation transposing the European Union Directive 2019/1158 of 20 June 2019 on work-life balance for parents and carers. The new legislation entered into effect on 1 August 2022.
The EU Directive on work-life balance for parents and carers, which entered into effect on 1 August 2019, focuses on promoting equality between men and women and addresses the underrepresentation of women in the labor market by establishing rights to paternity, parental and caregiver’s leave. EU member states were given a three-year transposition deadline which ended in August 2022.
Since the Croatian legislation already includes many provisions that the Directive prescribes, the most significant change introduced by the new amendment is the introduction of a paternity leave entitlement.
The new entitlement, paternity leave, refers to employed and self-employed parents for the duration of 10 working days for one child, or 15 working days in the case of the birth of twins, triplets or simultaneous birth of several children. The right can be used until the child is six months old at the latest, and the father can use it regardless of the mother’s employment status.
During such leave, fathers receive their full monthly pay, as do mothers on maternity leave, at the expense of the state budget, not the employer.
The state set aside HRK 91 million (€12 million) for paternity leave this year and HRK 273 million (€36.4 million) on an annual basis as of next year.
Paternity leave is not mandatory, but if a father wants to take it, his employer must allow it or face fines ranging from HRK 10,000 to 50,000.
„The main goal of this leave is to enable parents and people who take care of others to coordinate business and private obligations more easily and concretely, as well as to allow fathers to be more involved in the care of children and participate in the early years of the child.
It remains to be seen whether the amendments will indeed contribute to improving the work-life balance of working parents and increase the number of fathers taking advantage not only of the newly introduced paternal leave, but parental leave in general.“
In addition to all above stated, please note that this benefit is completely regulated by the state without possibility for insurer´s or broker´s approach.
