Earthquake insurance, what's wrong with the draft? - "The obligation to block services for citizens is problematic"
Businesses have reservations and suggestions regarding the draft law on mandatory earthquake insurance, which was recently submitted for public consultation.
Through a letter sent to the Ministry of Finance, the American Chamber of Commerce emphasizes that the draft defines apartments and interior sections but leaves ambiguity about mixed-use buildings and structures that are only partially residential.
The letter also states that the definition of an earthquake event is related to a magnitude above 5.0, but does not specify the process for its official recognition and declaration by the authorities, creating room for dispute.
Regarding the mandatory nature of the draft law, which links the provision of housing to access to important services such as cadastre, e-Albania, QKB, the American Chamber emphasizes that although it is a strong incentive to respect the law, the denial of basic services to persons who do not comply with it could violate the principle of proportionality, especially for vulnerable groups. At this point, it is recommended to provide for exceptions and facilities for certain categories of the population.
On the other hand, the establishment of the Earthquake Fund as a public joint-stock company is considered a positive approach, but from the business perspective, the law gives the Ministry of Finance broad powers over appointments and supervision, raising doubts about the true independence of the Fund. For this reason, it is recommended to add more detailed provisions on conflict of interest, transparency and publication of periodic reports and audits.
The letter states that the draft law provides for a three-month deadline for the payment of claims but does not clarify the procedures in case of refusal or delay. Also, the complaint before the ad-hoc commission is not detailed in terms of composition and competences. For this purpose, a more complete framework on complaint mechanisms and the inclusion of alternative solutions such as mediation or arbitration, which would ensure greater trust and efficiency, is recommended. On the other hand, measures are required to ensure that the exchange of citizens' data between institutions is in accordance with the law on the protection of personal data.
According to the American Chamber, another problematic point is that the draft law addresses mandatory and voluntary insurance, but the coordination between them and the order of payments is not detailed.
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