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Remuneration of financial intermediaries will not be regulated as initially proposed by the Ministry of Finance (MF) of the Slovak Republic. Parliament passed an amendment to the law on insurance, as well as several subsequent motions.
Initially proposed by the Ministry of Finance, the Ministry of Finance proposed that the remuneration of the mediation does not exceed 1.5% of the total amount. "The regulation of remittances remuneration is a surplus, but not at the average market value, and the rules do not provide discounts for customers, and any difference in the remuneration of the bank is the profit of the bank"
The amendment also changes the value of the cash value in the case of the insured. The MoF SR originally proposed that the insurance company invest 50% of the premium paid the first year, the second year 65% and the third year and the other years and 80% of the year. paid insurance. During the first year, 60% the second year and the third year, 70% of the premium paid, will be adjusted to the percentages that are invested in insurance.
After new customers have their own banks and insurance companies provisions and information forms, which provide them in a form easily understandable with information on the main pollutants entering the price of financial products. Forms of information forms will be established by the Ministry of Finance of the Slovak Republic.
The Association of Financial Intermediaries and Financial Advisers (AFISP) welcomed the amendments made to the amendment to the Parliamentary Assembly. "The modification of offers, the repayment threshold, the rule of redemption after the third year will be positive, will have a positive effect on the market of mediation and the life insurance market in Slovakia," said Martin Lancz, president of the AFISP
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