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News from the Council of Bureaux

News from the Council of Bureaux

The CoB meet twice each year with representatives of claim handling companies that operate with an international network for handling and settling of Green Card Motor Claims. On December 9, 2015 the financial stability of the Green Card system, the admittance of Azerbaijan and the difficulties in Moldova were discussed. A report of this meeting.

Financial stability of the Green Card system

An important item on the agenda of this meeting, presided by Mr Jean Zenners, who in 2015 succeeded Mr Mariusz Wichtowski as CoB President, was the financial stability of the Green Card system. Correspondents were urged again to report overdue invoices to Motor Insurers for claim payments and handling fees. It appears that the payment behaviour of certain Insurers has been deteriorating over the past years and causing problems for the system. CoB has the power to impose sanctions against Green Card Bureaus whose members do not respect the payment terms as set forth in the Internal Regulations.

Main objective of the Green Card system is the protection of victims after an accident caused by a foreign motorist. This objective is endangered when Insurers fail to reimburse their Correspondents timely for compensation payments to Third Parties. The issue is a regular topic during meetings between CED and its clients and when necessary arrangements are agreed to pay off debts as quick as possible and to prevent intervention by local Green Card Bureaus and substantial extra costs.   

Azerbaijan new member per 01/01/2016
Azerbaijan has been admitted as new member of the Green Card system per 01/01/2016. Together with our Russian partner CED is working on a solution that guarantees its clients’ interests will be looked after in the best ways in case of an accident in Azerbaijan.

Membership Moldova is at stake
There is a serious risk that Moldova will be suspended as member of the Green Card system as per 01/04/2016. The situation in this country is very complicated, partly because of political reasons. Should suspension take place, the end date of any Green Cards issued by Moldavan Insurers will be 31/12/2016. CED Moldavan Partner is Grawe Carat, subsidiary of the Austrian Insurance Company Grazer Wechselseitige.

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