The draft law introduces changes to the law “On insurance activity” to bring it in line with latest developments in the insurance market of Uzbekistan and further improvement of the industry.

Legislative Chamber backed the draft law in the first reading and the Committee was entrusted to prepare it to the second reading, UzA reported.

The draft law envisages opportunity to state bodies, regulating execution of the laws on mandatory insurance, to received information on insurers, insured persons, insured property and the insurance sum. This information will be necessary to determine if the insurers are executing their liabilities. The draft law will also envisage measures on protection of confidential information.

At the meeting, the participants developed recommendations and proposals to improve the draft law.