IBC discusses the insurance sector’s issues

Today, on February 1, representatives of insurance companies and the Kyrgyz Association of Insurers, considered the arguments in favor of the entry into force and the early introduction of compulsory motor third party liability insurance.

In the near future, IBC will form its position on this issue on the basis of the available materials and objective arguments.

The meeting participants also discussed the requirements of the Government Resolution of September 4, 2018 on the procedure for reporting and disclosure of information by financial market entities.

According to the meeting participants, this procedure is complicated for the business. There is a trend towards simplifying financial reporting in the country, and toughening of requirements may adversely affect business operations.