According to the adopted document, the maximum liability limit for certain types of insurance risks is capped at 20% of the company's own funds.
Additionally, the minimum requirements for authorized capital have been increased:
- for insurance and reinsurance companies — no less than 150 million soms;
- for companies engaged solely in reinsurance — 300 million soms;
- for organizations operating in free economic zones and conducting reinsurance — no less than 100 million soms;
- for insurance brokers — no less than 1 million soms.
The formation of authorized capital must be carried out exclusively in the national currency and stored in commercial banks of the country.
The new requirements will come into effect 10 days after publication.
