CIVIL CODE OF THE REPUBLIC OF SERBIA

It is of utmost importance that the Republic of Serbia regulates private law by promulgating the Civil Code. The first Civil Code was enacted in 1844, influenced by the Austrian Civil Code including the Serbian custom law.
Insurance law covering property and life insurance is regulated in detail. When enacted, the Code will replace the Law of Obligations. The Code will be a modern one, taking into account the European Union regulations and protection of assured.

Novelties in the Code will be the following:
– insurable interest will be more precisely defined
– insurance of profit
– in liability insurance
– regulating moment when the insured event occurred
– period of insurance in detail
– regulating expenses covering legal protection.

When the Code comes into force the insurers will, beyond any doubt, have more obligations towards the assured.