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Preparing for CMTPLI. Kyrgyzstan decides on insurance sums

The State Service for Regulation and Supervision over the Financial Market submitted for public discussion a draft resolution on approval of the minimum amount of insurance sums, liability limits and insurance premium rates within the Compulsory Motor Third Party Liability Insurance.

The cost of an insurance certificate for car owners will depend on risk factors such as type of vehicle, age and driving experience, as well as the existence of insurance events caused by a driver in the previous period.

The base insurance certificate will cost 1,680 soms.

It is proposed to set the amount of insurance sums taking into account the experience of the member states of the Eurasian Economic Union, in which CMTPLI has been operating for many years. At the same time, the calculations took into account indicators of the standard of living of the population in Kyrgyzstan (average wage).

Payment for causing harm to life or health of each victim and causing death of a victim will be 300,000 soms, 1st group of disability — 200,000 soms, 2nd group of disability — 150,000 soms, 3rd group — in the amount of 100,000 soms.

In case of trauma, injuries without disability, actual expenses for outpatient or inpatient treatment are paid, but not more than 100,000 soms; for causing damage to the property of the victims — in the amount of the damage caused, but not more than 150,000 soms to each victim and not more than 450,000 soms to all victims.

It is planned to introduce Compulsory Motor Third Party Liability Insurance from February 7, 2019 in Kyrgyzstan.