Compensation for accidents with uninsured vehicles - AMF: Around 351 million lek in 2024. Pending damages from the Compensation Fund have been reduced
In the past year, payments from the Compensation Fund for damages to an insured vehicle involved in an accident with an uninsured vehicle amounted to 351 million lek.
Injured parties in a car accident within the territory of Albania, caused by an uninsured or unidentified vehicle, have the right to compensation from the Albanian Insurance Bureau, specifically the Compensation Fund.
Insurance companies, members of the Albanian Insurance Bureau, which operate in our country in compulsory motor insurance, are obliged to contribute financially each year to the compensation fund, in direct proportion to the gross premiums written in these types of insurance in the previous year.
The Compensation Fund was 270 million lek in 2024. According to the annual report of the Financial Supervisory Authority, the Compensation Fund at the end of last year resulted in a realization of 145.5% of the fund's obligation. Its balance in December 2024 was in surplus of about 109 million lek.
As for pending damages, that is, those that have not yet been paid by the Compensation Fund or have been submitted to court, they are worth about 688 million lek, decreasing in value by about 155 million lek, compared to the data reported in 2023. A significant portion of pending damages continue to be damages in litigation, pertaining to events before the entry into force of the 2021 law, which result in a value of about 459 million lek, or about 67% of damages in the process.
For this year, the Compensation Fund for damages in the transport sector for the year 2025 is at the amount of 250 million lek. The Albanian Insurance Bureau is the administrator of the Fund, responsible for paying damages resulting from automobile accidents caused by uninsured or unidentified vehicles.
Poll
Where did housing prices and rents increase the most in 2024 in Europe? - Here's where Albania ranks!
The rising cost of living is the main cause of concern for European citizens, according to a 2024 Eurobarometer survey. The finding is perhaps not surprising......
IMF does not predict global recession - But trade tensions will reflect economic decline
Rising trade tensions and fundamental changes to the global trading system will cause downward revisions to the International Monetary Fund's economic......
"We will increase subsidies for every farmer by 6 times" - Berisha: Within the first year we will have a large increase in production
The leader of the Democratic Party, Sali Berisha, has held meetings with businesses in the Kruja craft market. Speaking about the agricultural sector, he......
272 checks per month for oil - 13 cases with problems, in 2024 consumption increased by over 59 thousand tons
Energy products placed on the market for consumption, such as oil or natural gas, have been the focus of controls regarding their traceability and whether......
US-Ukraine, closer to agreement - Kiev signs memorandum of understanding on minerals
Ukraine announced that it had signed the basis of a minerals agreement with the US, although details of the pact have not yet been announced. Yulia......
Tenders, institutions "distribute" 172 billion lek - APP Report for 2024: 14% of the announced limit fund was saved through procedures
Around 172 billion lek is the value of contracts for works, goods or services announced as winners during 2024 by state institutions. The Public Procurement......
"Manufacturing industry, progress in the world market" - Rama: The moment of EU entry immediately changes wages, automatically
Prime Minister Edi Rama and the Minister of State for Entrepreneurship and Business Climate, Delina Ibrahimaj, paid a visit to one of the four largest......
Privatization of properties with a 1 euro lease contract - Rules change, how they will be sold to the entities that use them
Properties leased for 1 euro will be able to be privatized by the entities that use them under a contract. The draft law approved by the Council of Ministers......
