Insurance agency

Insurance agency activities shall be the activities of initiating, proposing or carrying out the tasks of preparation and conclusion of insurance contracts on behalf and for the account of an insurance undertaking.

Insurance agency activities shall be carried on by a legal person or natural person – entrepreneur based on an insurance agency contract, in accordance with the Insurance Law (RS Official Gazette, No 139/2014 and 44/2021).

The insurance agency contract shall be kept on the business premises of the contracting parties.

Carrying on Insurance Agency Activities

Insurance agency, as an exclusive activity, shall be carried on by:

  • An insurance agency undertaking with its head office in the Republic of Serbia, registered with a competent authority based on its license to carry on insurance agency activities issued by the National Bank of Serbia
  • A natural personentrepreneur (hereinafter: insurance agent) with its head office in the Republic of Serbia, registered with a competent authority based on its license to carry on insurance agency activities issued by the National Bank of Serbia.

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Insurance brokerage undertaking

The conditions for the establishment and operation of insurance brokerage undertakings, as well as the conditions for performing insurance and reinsurance brokerage activities, are regulated by the provisions of the Insurance Law (RS Official Gazette, Nos 139/2014 and 44/2021).

Insurance brokerage activities include insurance and reinsurance brokerage activities.

Insurance brokerage activities shall be activities related to introducing the insured and/or policyholder to an insurance/reinsurance undertaking for the purpose of negotiating the conclusion of an insurance/reinsurance contract, preparation for the conclusion of these contracts, as well as providing help in exercising the rights arising from such contracts, in settlement of claims for damages. Continue reading Insurance brokerage undertaking

Professional liability insurance in Serbia

Professional liability insurance provides insurance protection to the insured for claims for compensation of ordering parties of services that are the result of professional fault of the insured in performing the registered activity and for which the Insured is liable under the law.

Professional fault is a violation and / or derogation of the existing codes of practice, established standards or the established rules of attention, applicable to a particular profession for which insured shall be responsible in accordance with the applicable regulations. Continue reading Professional liability insurance in Serbia