Европска регулатива тржишта осигурања – изазови имплементације у Црној Гори

Market position and competitive advantage of insurers in the integrated Montenegrin insurance market, can be sustained by improving professionalism, taking into account the needs of the insured, strengthening of financial capacity with the aim that insurers accept the big risks, introducing of sophisticated insurance products, as well as by adjusting the business for competitive strategy of global market. Implementation of European insurance legislation in order to integrate Montenegrin into European insurance market is a big challenge for all insurance market subjects. Considering the size and specificity of Montenegrin insurance market, it is necessary that when creating new and changing valid legal solutions, regulator takes into account not only the deadlines for the adjustment of insurance companies’ businesses with EU regulations, but also the stability of the insurance market in Montenegro. In order to establish an adequate institutional framework for integration into the European market, the Insurance Supervision Agency of Montenegro should adopt legislation in line with European Union directives and the fundamental principles of the International Association of Insurance Supervisors. By implementing the „Solvency II” project, with a proactive and adequate control of the business, the insurance companies will have to identify and evaluate the risks they are exposed, to anticipate market changes, to improve internal controls and to maintain its financial stability. All mentioned will have the positive influence on the future prosperity of the insurance market.