BOSANSKI   HRVATSKI  

The Insurance Supervisory Agency of Federation of Bosnia and Herzegovina was established pursuant to the Law on insurance companies in private insurance as successor in title of the Office for Supervision of Insurance Companies in Federation of Bosnia and Herzegovina.

Agency has regulatory and supervisory function, as supervisory institution, under business perfomed by insurance companies and intermediares in the insurance area. Agency is a legal entity, independent and non-profit institution, and for work performed, it is accountable to the Government of Federation of B& H.

According to the laws, the main tasks of the Agency are the following:

  • Issuing operation licences for performance of insurance companies and intermediaries in insurance ( insurance agents and insurance brokers )
  • Giving opinions on the insurance companies acts which they are obliged to make in accordance with the Law ( conditions of insurance, tariff rates, rules on the method of determing of unearned premium and outstanding losses, reservation for catastrophes, rules on determing the mathematical reserve and its implementation in life insurance, etc.),
  • Collecting, procesing and recording data submitted by insurance companies and intermediaries in insurance in accordance with the regulations,
  • Supervising insurance undertakings, insurance intermediaries and linked entities in accordance with the regulations,
  • Initiating and supervising the procedure of provisional administration, liquidation, bunkruptcy and rehabilitation of insurance companies,
  • Revoking insurance and intermediation licenses in accordance with the Law,
  • Bring violation and criminal proceedings in accordance with the insurance regulations,
  • Issuing decisions regulating insurance companies work, work of intermediaries, and authorised actuaries in accordance with the Law,
  • Other issues in accordance with the regulations.

Agency is managed by the five members Council that is nominated and acquitted by the Goverment of Federation of BiH.
Agency is run by director who is also nominated and acquitted by the Goverment of Federation of BiH.
The Reports on Agnecy work and performace are submitted to the Goverment of Federation of BiH.

Chairmen of the Council of Experts: Željko Šain
Director of the Agency: Adnan Delić
Seat of the Agency: Sarajevo, Kolodvorska 12
Phone : ++ 387 33 61 08 97
Fax: ++ 387 33 61 11 14
E-mail: nados@nados.ba

 
 Copyright © Insurance Supervisory Agency of Federation of BiH. 2005.