On 5 November 2009 the Serbian Competition Authority (KZK)  issued an ex officio opinion regarding new regulation of the insurance sector brought about by the Law on Obligatory Insurance  , 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  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)  to establish the initial basis for calculation of the premium rates, which was subsequently approved by the National Bank of Serbia (NBS) .
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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