The Guarantee Fund within the Association of Serbian Insurers was established in accordance with the Law on Property and Personal Insurance of 1996 and started its operations in July 1997. Pursuant to the law, operation of the Guarantee Fund is entrusted to the Association of Serbian Insurers as part of public functions.

The Guarantee Fund within the Association receives claims for compensation, assesses, liquidates and pays the sum insured i.e. compensation of damages, and settles recourse claims relating to the use of Guarantee Fund assets.

The Guarantee Fund is obliged to compensate a claim to the same extent and under the same conditions which would apply if the contract on compulsory insurance had been concluded on the date of the loss event, namely, up to the amount to which liabilities of insurance companies are limited by the law. Continue reading Competence of the guarantee fund and indemnity procedure →