Car insurance policies: AMF penalizes several agents

As of 1 December, 2017, the sale of motor third party liability insurance cars (MTPL) is done by reporting it in real time through the electronic register of motor insurance policies.

But, an audit conducted by the Financial Monitoring Watchdog (AMF) revealed that several agents have sold motor insurance policies without declaring them online.

AMF’s board decided to suspend the activity of an agent for a period of six months, while it also suspended the license of another agent working in the field of insurance.

The board’s decision states that motor insurance policies must only be sold through the online electronic register.

AMF once again calls on consumers to check their insurance policy in the authority’s webpage, by filling out the requested information.

In case their policy is not found, then they should notify the authority or other law enforcement agencies. The authority also informs that it will hold periodical inspections on the ground.