Insurance in Montenegro

The statutory system includes pension and disability insurance through Fond PIO Crne Gore, compulsory health insurance financed through Fond za zdravstveno osiguranje Crne Gore, and unemployment insurance administered through Zavod za zapošljavanje Crne Gore. Pension insurance can provide old-age, disability, bodily-injury and survivors' benefits. In 2026, the standard old-age pension requirements are age 65 with at least 15 years of insurance, or age 61 with 40 years of insurance, or 40 years of effective insurance. Early retirement generally requires age 63 and at least 15 years of insurance, with a permanent reduction of 0.35% for each month before age 65. A transitional rule for women in 2026 provides for age 63 years and 3 months with at least 15 years of insurance. Disability and survivors' pensions depend on statutory insurance-period and family conditions. Unemployment benefit generally requires involuntary termination and at least nine months of insurance during the previous 18 months; registration and the claim normally have to reach Zavod za zapošljavanje Crne Gore within 30 days. The benefit period depends on the insurance period. Since 1 October 2024, the pension contribution rate is cumulatively 10%, paid by the employee at 10% and the employer at 0%; unemployment insurance is generally 1%, split equally at 0.5% each. Official health-contribution information has shown conflicting rates of 10.8% and 12.8%, so the applicable payroll basis and current rules should be checked rather than applying either figure generally. Private insurance is generally voluntary unless a statute requires it. Available forms include life, accident, voluntary health, property, building, household contents, comprehensive vehicle, transport, agricultural and liability insurance. Life and non-life insurance require separate licensing areas. A policy should be purchased from an insurer licensed by the Agencija za nadzor osiguranja, or ANO, or through a registered broker, agent or licensed bank acting as a distribution channel. ANO licenses and supervises insurers, brokers, agents and relevant banks, maintains registers and decides insurance complaints. The register includes providers such as Lovćen životna, Lovćen osiguranje, Wiener Städtische, Generali osiguranje Montenegro, Uniqa neživotno, Uniqa životno, Grawe osiguranje, Grawe neživotno and Sava osiguranje. Check the current register before signing because licensing and operating status can change. The Insurance Act, published as Sl. list CG 033/25, regulates insurers and reinsurers, market access from EU and third countries, consumer protection, distribution, group supervision, Solvency II and EIOPA-related supervision, liquidation and bankruptcy. Insurance documents supplied before conclusion on paper or another durable medium should identify the insurer, legal form and registered office, contract term, termination rules, premium, payment method, contributions, taxes and other fees, total payment, the period for which an offer remains binding, the complaint procedure, applicable law and policy conditions. Check exclusions, duties after an insured event, waiting periods, deductibles, territorial limits and premium due dates. Premiums depend on the product, risk and policy terms. The Ministry of Finance identifies a 9% insurance-premium tax on the agreed premium, subject to checking the specific product and any exception. Individual life insurance generally has a 30-day withdrawal period from receipt of the notice of conclusion under the documented information rules. Life policies should also provide the profit-sharing information, surrender-value table, capitalization details and, where relevant, unit-linked fund information. Compulsory traffic insurance is governed by the Zakon o obaveznom osiguranju u saobraćaju, consolidated through Sl. list CG 044/12, 146/21 and 069/25. It covers third-party liability for covered road vehicles and also applies to aircraft and watercraft owners or users in the cases defined by law. Proof of motor liability insurance is needed for vehicle registration. Udruženje - Nacionalni biro osiguravača Crne Gore operates the Green Card Bureau, Information Center and Garantni fond. A claim involving an unknown or uninsured vehicle, an aircraft or watercraft, or an insolvent or license-withdrawn insurer can generally be directed to the relevant bureau or Garantni fond. A traffic-liability claim is submitted directly to the insurer or Udruženje. Within 60 days, the responsible body must provide a reasoned offer or reasoned response; if the final amount is unclear, it must pay the undisputed advance. Full payment follows within eight days after a decision or settlement, otherwise default interest may apply. A lawsuit filed before the 60-day period ends is generally premature. The published internal claims rules must state the evidence, assessment, decision, payment and complaint deadlines. For certain cross-border cases, the bureau can assist when there is no payment or response, no appointed representative or no identified insurer after 60 days. For voluntary policies, the policy, general and special conditions and the policyholder's duties control. Report an event without delay, reduce the loss where reasonably possible, preserve the policy and payment records, and collect police, medical, ownership and other evidence. Arrange inspection where the policy requires it. There is no single statutory reporting period for every voluntary product. A breach of a policy duty can affect payment and may allow recovery against the responsible party. In compulsory traffic liability, the insurer cannot generally use every objection against the injured third party that it could have raised against the policyholder; statutory recourse may still follow. A complaint normally starts with the insurer or another supervised entity. If the internal answer is unsatisfactory or does not arrive within the applicable period, a written complaint may be submitted to ANO at its registry office, by post or by email. It must be in Montenegrin, cannot be anonymous, and should be filed no later than one year after the last internal decision. ANO gives the supervised entity an opportunity to comment, normally allowing five days, and issues a final response within 30 days after establishing the relevant facts. ANO supervises and decides complaints but does not replace a court in determining the final amount of a disputed claim. ANO review is not a compulsory preliminary step for proceedings before the Centar za alternativno rješavanje sporova or a court. Cancellation, renewal, premium changes, benefit changes, surrender and making a policy paid-up depend on the policy and applicable law. When changing insurers, obtain the new policy and confirmation of cover before ending the old one so that no gap arises. Check the current ANO register and any liquidation or bankruptcy notice. Portfolio transfers, license withdrawal, voluntary liquidation and bankruptcy involve ANO supervision or approval, public notices and procedures for the liquidator or creditors. Montenegro therefore does not have one unified insurance system equivalent to a single national model: responsibilities are distributed among statutory funds, the ANO-regulated private market and the National Bureau and Garantni fond. Local or municipal insurance systems with different rules have not been established for this coverage.