Insurance sector state policy and legal regulation improvement in Kosovo

Isufi, Xhenete and Miloshoska, Danijela (2024) Insurance sector state policy and legal regulation improvement in Kosovo. Social & Legal Studios. 2024. Vol. 7, No. 4, 7 (4). pp. 111-120. ISSN ISSN 2617-4162

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Abstract

. Kosovo, especially in the circumstances of European integration, requires improvements in social and public
insurance policies to ensure that society functions efficiently and protects its members from risks. The study aimed to
identify ways of improving national policy and legal regulation of the insurance sector in Kosovo. Regulatory documents
and statistical data from insurance authorities in Kosovo were addressed to achieve this goal. An examination of the public
policy and legislative framework controlling Kosovo’s insurance sector found various issues that demand immediate
attention and reform. The analysis showed that existing legislation does not always meet the challenges and needs of
the insurance market in the 21st century. The need for a new regulatory framework becomes even more urgent due to
the need to introduce voluntary insurance for all segments of the population, which has the potential to provide wider
access to insurance services and reduce risks for individuals in the event of unforeseen events. The study also found that
one of the important problems is the low level of insurance culture among the population. Many Kosovo citizens might
underestimate the advantages of insurance or are unaware of the many insurance products and possibilities available.
Addressing this problem require large-scale educational campaigns and programmes aimed at raising public awareness
of the importance and benefits of insurance, as well as disseminating information about available insurance products and
their options. The practical significance of this study is the development of ways to improve the insurance sector in Kosovo

Item Type:	Article
Subjects:	Scientific Fields (Frascati) > Social Sciences > Law
Divisions:	Faculty of Tourism and Hospitality
Depositing User:	Prof. d-r. Danijela Miloshoska
Date Deposited:	13 Feb 2025 10:27
Last Modified:	13 Feb 2025 10:27
URI:	https://eprints.uklo.edu.mk/id/eprint/10674

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