bs-preloader__icon
ru kz en

What will change in the regulation of the insurance market?

By the resolution of the Board of the Agency of the Republic of Kazakhstan for regulation and development of the financial market, amendments and additions were made to some regulatory legal acts on the regulation of the financial market.
What will change in the regulation of the insurance market?

In particular, in civil liability insurance, the subparagraph “insurance of an employee against accidents in the performance of his labor (official) duties” is excluded from the mandatory types of insurance, it is worded differently.

Now the compulsory insurance types include the following:

- essence of liability insurance;

- professional liability insurance;

- civil liability insurance of vehicle owners;

- civil liability insurance of carrier before passengers;

- insurance of civil liability of private notaries;

- insurance of civil liability of audit organizations;

- environmental insurance;

- civil liability insurance of owners of facilities whose activities are associated with the risk of causing harm to third parties;

- other types of liability insurance and mandatory types of insurance.

The resolution also allows for the following:

  • providing consumers with the opportunity to determine the amount of depreciation on the insurance ombudsman’s Internet resource when calculating the cost of the amount of damage caused to a vehicle under compulsory motor insurance;
  • optimizing the procedure for consideration of applications by the insurance ombudsman by the possibility of ending the dispute by reconciliation of the parties or by sending recommendations and explanations;
  • reducing the reporting submitted by the insurance agent to the insurance company;
  • improving the procedure for coordinating executives in the insurance market.

The regulation comes into force on May 30, 2023.

Photos are from open sources.

Share
read also
One spoonful of this sweetness a day will reduce the risk of inflammation
One spoonful of this sweetness a day will reduce the risk of inflammation

Honey has a number of useful properties but when using it, you must follow the dosage...

How to get the most out of a life insurance policy?
How to get the most out of a life insurance policy?

A decent amount can be built with the help of life insurance policies. These are low-...

They proposed to simplify the life insurance procedure in Russia
They proposed to simplify the life insurance procedure in Russia

Nikolay Zhuravlev, Deputy Chairman of the Federation Council, and Anatoly Aksakov, he...

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
Submit your application