Members of the Joint Committee for Economic Reforms and Development of the PA BiH met with representatives of the Insurance Agency in Bosnia and Herzegovina

Members of the Joint Committee for Economic Reforms and Development of the Parliamentary Assembly of Bosnia and Herzegovina (PA BiH) spoke today in Sarajevo with representatives of the Insurance Agency in Bosnia and Herzegovina.

The Director of the Agency and her associates presented the work of this institution, as an independent administrative organization established by the Law on the Insurance Agency in Bosnia and Herzegovina and provided certain information on the work of this Agency.

A series of data was presented on current activities carried out by the Agency, such as the preparation of analyses of the compliance of entity laws regulating the work of insurance companies, consideration of drafts, proposals for amendments to laws in accordance with the Agency's competences, preparation of relevant documents on the situation in the insurance sector, conclusion of contracts , collecting, processing and publishing statistical reports.

Also, the activities in the field of cooperation agreements for the exchange of data with the competent authorities of other countries, in addition to cooperation with entity agencies for insurance supervision, as well as participation in work with working groups for European integration on the preparation of the BiH Integration Program into the European Union, are listed.

Officials from the Agency spoke about the challenges faced by the Agency, about the different time of drafting and adoption of entity laws and by-laws in the field of insurance, the need to increase the number of employees through changes to regulatory acts, all in accordance with the Stabilization and Association Agreement and opinions of the European Commission on Bosnia and Herzegovina from 2019.

The members of the Joint Committee emphasized that they support the activities of the Agency to improve work in the field of insurance at the level of Bosnia and Herzegovina in accordance with the competences of the Committee.  

The members of the Joint Committee thanked the representatives of the Agency for the detailed presentation and noted that the information presented will be particularly useful in their further parliamentary work. They concluded that the practice of organizing such meetings is useful both for the members of the Committee and for the representatives of BiH institutions. (end)