The draft law was presented by the Cabinet of Ministers on January 21 for discussion in the Jogorku Kenesh.
According to representatives of the Financial Supervision Authority, the main goal of the new regulation is to create a mechanism for collective risk distribution in the system of mandatory insurance of residential premises against fires and natural disasters (OСЖ). This will be achieved through the formation of an insurance pool and clarification of the conditions under which insurance cases can be recognized.
It is proposed to change the definition of "insurance pool" in the legislation on mandatory housing insurance. In its current version, this pool is an association of insurers that is not a legal entity. The new draft law plans to make this pool a legal entity, and its funds will be formed from a portion of the insurance premiums received from insurance companies to fulfill obligations under contracts for mandatory insurance of residential premises.
Among other goals that the Financial Supervision Authority aims to achieve if the draft law is approved, the following can be highlighted:
- reducing the share of denials of insurance compensation for formal reasons by 50%;
- reducing budget expenditures for compensation of damage from natural disasters by 30-40% compared to the average figures over the past five years;
- increasing the number of insured homes in rural areas by 15-20%.
