Friday, January 18, 2008

BRCKO DISTRICT SUPERVISOR RAFFI GREGORIAN REGULATES WORK OF INSURANCE COMPANIES WITHIN BRCKO DISTRICT

SARAJEVO, Bosnia (January 18,2008) – The Brcko District Supervisor Raffi Gregorian issued yesterday a Supervisory Order on the applicability of entity legislation regulating the establishment, supervision, business operations and governance of insurance companies and obligatory insurance within the Brcko District.

This Order is an addendum to the August 4, 2006 Supervisory Order “Abolishing Entity Legislation within Brcko District and Declaring the Inter-Entity Boundary Line to Be of No Further Legal Significance within the District”.

Since the Supervisory Order of August 4, 2006 abolished entity legislation, and the District has not developed its own legislation regulating the insurance sector, this area of business became unregulated within the Brcko District.

Insurance companies cannot work if not registered and supervised by an insurance agency. The option of establishing a Brcko District insurance agency has been explored and assessed as an unnecessary and disproportional burden on District resources.

Therefore, Supervisor Gregorian decided that entity laws and regulations relating to the insurance sector will be in force in the Brcko District until such time that they are repealed by a decision or legislative enactment of the Brcko District Assembly.

The effect of the Supervisory Order is that branch offices of insurance companies operating in the Brcko District will continue to be supervised by the insurance agency of the entity that registered those companies, and insurance companies with the seat in Brcko District will be free to choose the insurance agency of an Entity with which they wish to register. Once they are registered, they will fall under the supervision of that particular Entity insurance agency.

1 comment:

Randall said...

My name is Randy Hampton. I came to BiH with Task Force 3/5 CAV acting as the civil military operation officer for the Task Force. My duty continued shortly after release active duty to return as the Head of Office for the OSCE in Brcko. At that time, the staff consisted of "Bobo"/Administration Manager; "Dan" who handled just about everything else...and "Emily" who did the translation. I have very happy memories of them all. I only wish Brcko could of really made the "comeback" so many had forecasted as a truly multi-ethnic city within a formally contested war zone.

After Bosnia, I went to Vukovar and other small towns in Eastern Slavonia with the OSCE until terminating of the contract in late 1999. A few months in Dubrovnik..what a great city, then moved to the Island of Mallorca.

In early 2002, I worked as an observer/advisor to the Sudan People's Liberation Army/SPLA in Nuba Mountains, central Sudan. I early 2002, I worked the border areas of Afghanistan-Pakistan followed in 2005 with a tour in Iraq...Balad/LSA Anaconda..then lastly having just returned (1 May 2008) from another tour in Sudan developing the SPLA command leadership in Juba, Southern Sudan.

Alot has changed since my early days of post war issues; the world has changed much too. Perhaps, not for the better..as the world has not real example of post conflict resolution coupled with a strong "move on" desire to put the past behind and build a new future.

To my long past friends and acquaitances...I hope you are all doing well...Dobro-Dobro/Randy
Email: jrandolphhampton@yahoo.com