Amendments to regulations on Guarantee fund have been adopted out of turn established in legislation.


Amendments adopted today by the Cabinet of Ministers to regulations that anticipate to reduce a single payment to MTPL Guarantee fund from the previous 200 thousand lats to 5 thousand lats, in the opinion of the Latvian Motor Insurer’s Bureau (LTAB) might in long-term imperil stability of the market.
Besides, the amendments to the regulations have been adopted at once without considering thereof at the session of the Committee of the Cabinet of Ministers. Such procedure is allowed in cases should an issue be of state significance and requiring for immediate alterations in legislation. On the contrary, from the point of view of LTAB reduction of MTPL Guarantee fund payment is not a state priority. PDF

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