Regulatory Alerts2024-12-27 | ПҚ-108-сонAdded
Resolution of the President of the Republic of Uzbekistan on Comprehensive Measures for Further Development of the Insurance Services Market
The resolution mandates the mandatory registration of all insurance contracts and issuance of policies through a unified automated information system starting September 1, 2024, while abolishing paper-only policies. It transfers insurance information systems to the National Agency for Development of Forward-looking Projects, establishes a rating system for insurers based on service quality, and requires the Agency to simplify mandatory insurance procedures and propose actuarial tariff revisions for motor third-party liability insurance within three months. Additionally, it mandates the integration of construction risk insurance with state funding systems effective July 1, 2024, and directs the reduction of bachelor's degree duration in insurance studies from four to three years.
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