Insurance in Kosovo

Kosovo has a nationwide insurance market governed principally by Law No. 05/L-045 on Insurances. The CBK licenses and supervises insurers, reinsurers, brokers, agents and loss adjusters. Foreign insurers generally need a CBK licence to cover risks in Kosovo, and life and non-life insurance operate as separate licensing areas. The market uses the euro in regular transactions. As of 9 July 2026, the active insurer list included Elsig, Dukagjini, Prisig, Scardian, Sigal Insurance Group, Sigal Life Insurance Group, Eurosig, Siguria, Sigma Interalbanian Vienna Insurance Group Kosovo branch, Sigkos, SAVA and SAVA Jetë. Insig Kosovo branch and Kosova e Re were listed in liquidation rather than as active providers. The most common private covers are motor third-party liability (MTPL), TPL+, Border Insurance and Green Card cover, Casco, property and house insurance, accident insurance, private health insurance, life insurance, travel and assistance cover. Other licensed classes include fire and natural perils, general liability, loan, guarantee, financial loss, legal protection and other property damage. In 2024, gross premiums reached EUR 168.1 million. Non-life insurance accounted for EUR 160.4 million and life insurance for EUR 7.6 million. MTPL represented EUR 75.6 million, or 45% of the total market, followed by accident and health cover, Casco, loan and guarantee cover, fire and property cover, and general liability. These figures show market size, not a standard price for an individual policy. A person or company should conclude an insurance contract only with a CBK-licensed insurer or intermediary. Before signing, the provider must give written information about the insurer, covered risks, exclusions, amendments and termination, premium calculation and payment, claim requirements and deadlines, complaints and out-of-court dispute procedures. MTPL premiums follow a regulated structure and may reflect claims history through a bonus-malus system. Voluntary insurance premiums depend on the contract, insured value, risk and selected exclusions, so no single general tariff applies. The insured normally has to pay premiums, provide truthful information, report a loss promptly, supply evidence and follow the policy conditions. Insurers must provide information, act fairly and handle complaints impartially. Intentional unlawful damage and risks that had already occurred or were known when the contract was made are not covered. Unclear insurance terms are interpreted in favour of the insured. Life insurance on another person generally requires that person's written consent. Social insurance has a different legal structure from private insurance contracts. The Basic Pension is a state benefit administered for permanent residents who reach pension age. The Kosovo Pension Savings Trust, known as KPST, administers individual pension savings: employers and employees generally contribute at least 5% of gross wages each, while voluntary additional contributions can reach 15% for each side. Access normally begins at age 65. Supplementary employer or individual pension funds are voluntary, and the CBK supervises pension funds while the Tax Administration of Kosovo and employers process contributions. The Compulsory Healthcare Insurance Fund was established by Law No. 10/L-028, published on 15 May 2026; its detailed operation matters here only where it affects insurance status. No contribution-financed unemployment insurance benefit is evidenced, so unemployment support must be distinguished from social assistance and public employment services. For MTPL claims, the injured party submits the claim directly to the liable insurer. The insurer must register receipt on the same day and confirm it within three days. It has up to 60 days for a personal-injury claim and up to 15 days for a property-damage claim to make a written offer or give a reasoned refusal. If documents are missing, the insurer must identify them specifically within three days. The undisputed part should be paid as an advance. Failure to meet the applicable deadline can place the insurer in default and trigger interest at 12% per year from submission of the claim; court proceedings remain possible. The Byroja Kosovare e Sigurimit (BKS), including the Fondi i Kompensimit, handles statutory cases such as an unknown or uninsured vehicle and certain insolvency or liquidation situations. For an unknown vehicle, the police should be notified within seven days for property damage or 30 days for personal injury, and the BKS claim should be submitted within 90 days. Green Card and cross-border cases follow the BKS process and the applicable international regime. A complaint normally starts with the insurer's internal process. It can then be submitted to the CBK Financial Services Consumer Complaints Division through ankesat.bqk-kos.org, by post, in person or by fax. The CBK reviews compliance with legal, contractual and professional rules but does not replace a court. Policy changes, partial or full termination, renewal, non-payment and any surrender or payout usually depend on the contract and the product. There is no general cancellation or cooling-off period that applies to every insurance product. A portfolio transfer follows a CBK procedure, with a decision due within 30 calendar days after a complete application.