The Insurance Agency of the Republic of Srpska is one of the users of Twinning Project BA 07 IB FI 01 “EU Support for Sustainable Institutional Strengthening of the Insurance Agency of BiH, Insurance Agency of the Republic of Srpska and the Insurance Supervisory Agency FBiH”
Twinning Project is financed by the European Union through “the Instrument for Pre-accession Assistance” (IPA) for 2007 and the total amount of Euro 800 000. The Project was launched on 21 April 2010 in the duration of 27 months and is conducted by the Financial Supervision Agency of the Republic of Bulgaria.
The aim of the Project is the development of the insurance market in BiH, with the strong institutional framework and in accordance with the constitutional system of Bosnia and Herzegovina. The Project activities are directed on:
- sustainable institutional strengthening of the Insurance Agency in BiH, Insurance Agency of the Republic of Srpska and the Insurance Supervisory Agency FBiH,
- the development of the regulatory and supervisory practices in accordance with EU standards, laws and regulations,
- transparency in the exchange of information and reporting and
- further harmonization of the regulations and institutional framework of MTPL insurance with the requirements of EU Directives.
The Insurance Agency of the Republic of Srpska expects that the successful realization of this project will give contribution to the improvement of the insurance markets in the Republic of Srpska and BiH in the context of the possible signing of the Stabilization and Association Agreement of BiH to the European Union.
The Project activities were completed in April 2012. Brochure and photographs from the closing you can download here.