On March 4 of this year, the Committee of the Legislative Chamber of the Oliy Majlis on Budget and Economic Reforms held a seminar dedicated to the discussion of the draft law “On Insurance Activities”, which was attended by deputies of the Legislative Chamber of the Oliy Majlis, representatives of the Agency for the Development of the Insurance Market under the Ministry of Finance, insurance companies, experts and industry specialists.

It was noted that the draft law "On Insurance activities" was developed in accordance with the "road map" for the accelerated development of the insurance market of the Republic of Uzbekistan in 2019-2020, approved by the decree of the President of our country dated August 2, 2019.During the seminar, proposals were made to reduce the time required for insurance companies to review insurance claims and documents, to create a system for fair assessment of an insured event and prompt repayment of payments, and during the discussion of the draft law , specialists and experts of the Insurance Market Development Agency recognized that it is based on national experience and international principles.

Following the results of the seminar, it was noted that taking into account the proposals and recommendations made by the participants of the event, it is advisable to submit the draft law to the discussion of the factions for the second reading by the people's representatives.

Source: Ministry of Finance of the Republic of Uzbekistan