Uzbekistan, Tashkent, August 6 / Trend D. Azizov /
The total amount of benefits under the compulsory civil liability insurance of owners of vehicles increased in Uzbekistan in the first half of this year by 2,4 times compared to the same period last year - up to 2.9 billion soums.
The volume of premiums for compulsory insurance totaled 28 billion soums (24.3 percent of the total premiums collected by insurers in January - June), or 12.3 percent less than in the first half of 2009.
Insuance premiums increased compared to the last year. They hit 13.9 percent compared to 5.1 percent a year earlier.
The number of insurance policy as of July 1 for compulsory insurance increased by 7.1 percent - up to 1.1 million given 843,500 insurance policies. Total insurance liability of insurers decreased by 10.8 percent - up to 3.9 trillion soums compared to the last year.
Insurance companies got more than 4,000 claims for the first six months. There are about 2,900 claims. Measures were conducted concerning 71 percent of the total number. Insurance claims will not be met concerning 194 claims (4.7 percent). The rest are under consideration.
The Uzbek law "Compulsory civil liability insurance of owners of vehicles" entered into force in October 2008.
According to the law, the liability on insurance applies to owners of all vehicles (both domestic and foreign) used in the territory of Uzbekistan. The exceptions concern the owners of vehicles with a maximal speed of not more than 20 km / h, the owners of vehicles of the Armed Forces and the owners of vehicles registered in foreign countries, if their civil liability has been insured under the international systems of compulsory insurance.
The insured sum, within which the insurer undertakes to compensate the harm to victims in each incident, is $3,000 at the rate of the Central Bank. The amount of insurance compensation for damaged property may not exceed 35 percent of the insured sum, in case of harming the life and health, including fatalities - 65 percent.
The Cabinet of Ministers will regulate insurance rates and their use by insurers in determining the amount of insurance premiums.
The insurance contract is signed for one year. The maximal amount of the insurance premium can not exceed three times of the amount of the appropriate base insurance rate
Moreover, certain categories of people (disabled, retirees, participants of the war of 1941-1945, people injured in the Chernobyl accident, etc.) will get discounts when paying an insurance premium equal to 50 percent.
Traffic safety agency controls the availability of insurance policies. The fine - one minimal wage for physical entities and three minimal wages for heads of the organizations is imposed for driving without the insurance policy.
Nine companies having licenses deal with compulsory insurance.
According to traffic police, about four million vehicles operate in Uzbekistan. Every year, traffic police registers about 10,000 traffic accidents.
About 33 insurance companies operate in Uzbekistan, including two companies in the field of life insurance, one reinsurance company, three insurance brokers, one actuarial organization, four companies that provide services on insurance assistance, and four adjust and survey organizations.
It was reported that Uzbek insurers increased collection of premiums by 62.2 percent compared up to 142.7 billion soums in 2008. Total premiums increased by 28.4 percent - up 14.4 billion soums.