As part of Global Money Week, which this year carries the motto “Think before you follow, wise money tomorrow”, the President of the Association of Insurance Brokerage Companies at the Economic Chamber of Macedonia, Olivera Klincharova, appeared as a guest on the TV24 show Argument Plus. In her address, Klincharova touched on several key topics, including the role and importance of insurance brokerage companies, the significance of this distribution channel, cooperation with insurance companies, development of the insurance market, global trends, the importance of financial education for clients, the need for enhanced safety in financial transactions, and consumer protection for users of financial services.

The operation of insurance brokerage companies in Macedonia became possible in 2002 with the adoption of the Law on Insurance Supervision. Since then, their role and importance within the insurance sector have continued to grow. Most registered insurance brokerage companies in the country are members of the Association of Insurance Brokerage Companies, established in 2011 within the Economic Chamber. One of the Association’s key goals is to raise public awareness about the function of insurance brokers and to support the development of the insurance market in Macedonia.

The responsibilities of insurance brokers are legally defined. For policyholders (including legal entities, individuals, and public institutions), brokerage companies offer free consultations, risk analysis, help raise client awareness about available insurance products, and guide them through the claims process. The broker’s role is especially crucial in non-compulsory insurance types—such as home insurance, comprehensive auto insurance, and long-term policies like life insurance or those involving investment risk.

Klincharova emphasized the importance of insurance for business continuity, as well as the need to introduce new products to the market—such as medical malpractice insurance, cyber risk coverage, and personal data protection insurance.