The National Institute of Finance of Andorra (INAF) will acting as a guarantor, regulator and controller of the insurance sector of the Principality. This decision was taken by the Council of Ministers of Andorra. The corresponding proposal was introduced by the Minister of Finance of the Principality Jordi Cinca.
The corresponding amendments to the law on insurance will come into force on 1st January, 2018. In connection with the forthcoming transformation, the National Institute of Finance of Andorra will be renamed “The National Institute of Insurance and Finance of Andorra (INAAF).
The bill includes changes related to the supervision of the insurance market, as well as the establishment of control and supervision of this segment of the Andorran market.
