bs-preloader__icon
ru kz en

How will insurance change in Kazakhstan? Information graphics

In early July, President Nursultan Nazarbayev signed the Law on Amendments to Insurance and Insurance Activities and the Securities Market. LS prepared information graphics about changes in this sector.
How will insurance change in Kazakhstan? Information graphics

As Daniyar Akishev, the Head of the National Bank stated earlier, the new document suggests five major amendments in the market.

First of all, the approach to insure Kazakhstanis going abroad is to change.

At present, insurance works only if it is proved that the tour operator was mistaken (with insurance of the tour operator’s responsibility). When the amendments are in force, the tour operator will be obliged to issue the insurance certificate along with the voucher. The document will indicate the data of international companies that organize support for 24-hour a day access to medical services abroad.

In case of insurance event abroad, the insurance company will bear expenses for medical services, emergency medical care and repatriation.

The cost of insurance for tour operator will be about 320-330 Tenge per day. Coverage will be from 3 million to 16 million Tenge.

Secondly, introduction of imputed insurance

Unlike the existing types of insurance, voluntary and compulsory, imputed insurance will have a voluntary-compulsory form. It will create terms between the client and the company, which will be regulated by the contract and not by law directly.

The introduction of this new system will allow both the insurance company and its client to provide for flexible insurance terms.

The next direction is introduction of online insurance.

Financial services will be available in regions, primarily outskirts the regional centers and in countryside. The National Bank promises maximum protection of people’s information in the insurance database.

The fourth direction is the expansion of the insurance ombudsman’s functions.

The powers of the insurance ombudsman will include all types of insurance. Previously, its powers were only applied to car owners. The ombudsman will be able to consider disputes between individuals and small businesses for amounts of up to 10 thousand MCI (24 million Tenge).

The fifth change is the expansion of additional guarantee system for socially important types of life insurance.

Source: https://www.lsm.kz/kak-izmenitsya-strahovanie-v-kazahstane-infografika
Photos per website: osdp.info

Share
read also
European insurers are in favor of amending the Solvency II rules
European insurers are in favor of amending the Solvency II rules

A survey of European insurers showed that more than three-quarters of respondents pos...

Birzhan Khasangaliyev: “Our competition pays a great deal of attention to the role of the teacher”
Birzhan Khasangaliyev: “Our competition pays a great deal of attention to the role of the teacher”

Today, October 21, is the final day of the 2nd Republican Competition “Koshpendiler...

Why Finns Seek Insurances
Why Finns Seek Insurances

Attempts to regulate legislatively insurance sector in Finland only complicated thing...

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