Motor third-party liability insurance and its importance in the insurance market of Serbia

This paper examines the most significant segment of non-life insurance-motor third-party liability insurance. Following the introductory section, the focus is placed on its key features: purpose, objectives, regulatory framework, and open issues. Since many cars and other motor vehicles, driven by the needs of both the economy and individuals, continuously operate across different countries, it was necessary to analyze the international perspectives of this type of insurance, with particular emphasis on the Green Card system in Europe. Furthermore, the paper discusses the operations of motor liability insurers under extraordinary circumstances, such as those that arose during the COVID-19 pandemic. Special attention is also devoted to the motor liability insurance market in Serbia, taking into account insurance premiums and claims as the most relevant indicators.