The Private Pension Regulation and Supervision Authority (IPRSA) has issued a circular (2024/15) on June 6, 2024, which introduces changes to the premiums for Compulsory Motor Vehicle Liability Insurance. According to the previous circular (2023/31) dated December 14, 2023, the premium increases that were set to occur in June will now be applied at a rate of 3.5% starting in July. This new regulation will take effect from July 1, 2024, and will be overseen by the President of IPRSA.
