Uzbek parliament amends law “On insurance activity”

Tashkent, Uzbekistan (UzDaily.com) -- Legislative Chamber of Oliy Majlis of Uzbekistan passed a draft law “On introduction of changes and amendments to the law “On insurance activity”.

The document was developed in order to eliminate contradictions in some normative laws and to bring the law “On insurance activity” to modern trends of insurance market development.

The draft law envisages to introduce changes to article 15 of the law “On insurance activity”, which stipulates eliminating barriers on single use of legislative acts on insurance activity, strengthening licensing practice of insurance companies and brokers. The law also amends article 18, which is directed at eliminating existing contradictions.