Guideline 1/2022 “On the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance or other comparable guarantees”

The purpose of this guideline is to define the criteria and indicators, as well as the formula for the calculation, on how to stipulate the minimum monetary amount of the professional indemnity insurance or other comparable guarantees to be held by:

1. entities that apply for licensing and entities that are licenced to provide payment services under point 7 (payment initiation services) of Annex 1 of law 55/2020 “On payment services”;
2. entities that apply for registration and entities that are registered to provide payment services under point 8 (account information services) of Annex 1 of law 55/2020 “On payment services”;
3. entities that apply for licensing and entities that are licenced to provide both payment services under point 7 and 8 of Annex 1 of law 55/2020 “On payment services”.