On 5 November 2009 the Serbian Competition Authority (KZK) [1] issued an ex officio opinion regarding new regulation of the insurance sector brought about by the Law on Obligatory Insurance [2] , which entered into force on 12/10/2009. KZK was of the opinion that new law substantially restricted competition on the market for auto insurance services and it urged the Ministry of Finance [3] to proceed with legislative initiative in order to amend the specified law. Preceding regulation of the auto insurance services empowered the Serbian Union of Insurers (UOS) [4] to establish the initial basis for calculation of the premium rates, which was subsequently approved by the National Bank of Serbia (NBS) [5].
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The Serbian Competition Authority advises the Government to amend regulation of the insurance services in order to preserve competition among insurers (Regulation of the insurance services sector)
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