THE EVOLUTION AND STRUCTURAL CHANGES OF THE AUTO INSURANCE MARKET IN THE REPUBLIC OF MOLDOVA

Abstract

The transition to a market economy, a process to which the Republic of Moldova has ireversibly commited, has led to substantial changes in the conditions governing activities in the insurance sector. The auto insurance market operates based on the principles of competition and alignment with the national economy’s development potential. Thus, this article focuses on analyzing the evolutionary trends of the auto insurance market in the Republic of Moldova over the past 11 years, including its structural changes. The importance of this research topic lies in the necessity of gaining a deeper understanding of market trends and structural changes, improving regulations in the field, enhancing the accessibility of insurance services, and adapting them to consumer needs. The research objectives focus on identifying the main trends influencing the auto insurance market in Moldova, analysing structural changes and their impact on competition and accessibility, as well as formulating recommendations to optimize regulatory framework and enhance consumer- oriented services.

Keywords

• insurance market
• general insurance
• motor insurance
• gross written premiums
• insurance compensation