Insurance of the claims against foreign insurance company

According to the provisions of Article 274, paragraph 2 of Insurance Law until the day of accession of the Republic of Serbia to the European Union, risks may be insured with a foreign insurance company if insurance against those types of risks is not conducted in the Republic of Serbia, as well as other risks which are prescribed by the Government of the Republic of Serbia.

According to the provisions of the Regulation on determining the risks which may be insured, or reinsured with foreign insurance and reinsurance company, which entered into force on 27/06 2015, until the accession of Serbia to the European Union domestic legal and natural persons may insure at a foreign insurance company:

  • investment works in abroad which are performed by local companies, as well as equipment to carry out such works – if it is stipulated by the contract for the implementation of these works or by the regulations of the country where the works are
  • foreign loans on behalf of insurance the return of these loans – if it is provided for by the contract at the request of the creditor
  • ships in the construction or repair – if it is expressly provided for by the agreement concluded with foreign buyer, in other words with the client
  • goods to be exported from the Republic of Serbia, or imported into the Republic of Serbia – if the transport of such goods is not done at the risk of domestic natural or legal persons and goods in international transit (transport)
  • goods in transport and means of transport in relation to maritime navigation, commercial aviation and launching into space (including cargo and satellites), in other words liability which arising on that basis. Continue reading Insurance of the claims against foreign insurance company