Prime Minister's Economic Council Activity Update
AmCham Moldova expressed its concern regarding the changes made to Law no. 116 of May 18, 2012, on the industrial security of dangerous industrial objects, both in terms of regulatory deficiencies, as well as the lack of transparency in the decision-making process.
Under the revised law, the amount of insurance benefits and claims are expressly regulated, thus significantly increasing the insurance premiums (up to 40 – 100 times).
As a result, the value of the insurance premiums for these policies could reach 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.
Lastly, the amount of the fine paid by persons who violate the rules for the exploitation of dangerous industrial objects or who do not hold a compulsory civil liability policy has also increased.
Members Spotlight
Current number of members 175
Latest Advocacy on the Go