COMPENSATION FUND

The Compensation Fund is a Fund particularly created to compensate parties injured as a consequence of a motor accident caused by a motor vehicle, as predicted in the Law Nr. 10 076, dated 12.02.2009 on “Compulsory Insurance in the Transport Sector”, Chapter V, Article 45 and in conformity with Regulation Nr. 22, dated 19.03.2010 of the Albanian Financial Supervisory Authority on “Creation, Calculation, Financing, Administration of the Compensation Fund and Payment of Claims”.
The Compensation Fund aims, in abidance to the legislation in force, to compensate parties injured as a consequence of a motor accident caused by an uninsured or unidentified motor vehicle.
If a motor accident is caused by an uninsured motor vehicle object of compulsory insurance, all indemnities deriving from this accident, including death, bodily injury, and material damages, up to the limits defined by the Law,  shall be payable by the Compensation Fund.
If a motor accident is caused by an unidentified motor vehicle object of compulsory insurance, the injured party shall be indemnified by the Compensation Fund for:

As herein mentioned, an unidentified vehicle shall be considered a motor vehicle which has caused property damages, bodily injuries or death directly to third parties and has left the accident site immediately after.
The Compensation Fund shall also pay for indemnities deriving from interruption of activity or bankruptcy of an insurance company, member of the Bureau.
In such cases, injured parties shall address to the Albanian Insurance Bureau, from which they will attain all the necessary information related to the procedure of claiming compensation. The Claim for Compensation and the full documentation of the case must be sent in original or notarized copy to the Albanian Insurance Bureau at the following address:

Rr. “Gjergj Fishta”,
Pall. Edil-Al-It , Kati II,
Tirana, Albania