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Insurance companies of Kyrgyzstan ready for vehicle insurance

Insurance companies of Kyrgyzstan are ready for introduction of the Compulsory Motor Third Party Liability Insurance. The Deputy Chairman of the Board of the State Insurance Company LLC Bakyt Sharshenaliev told at a round table discussion.

According to him, the state insurance company fulfills its payment obligations. Their volume has already reached 19.5 million soms. «There were payments on traffic accidents with public transport and housing insurance. We are interested in payments in time,» Bakyt Sharshenaliev said.

The president of the Kyrgyz Association of Insurers Sabyrbek Moldokulov added that private companies were ready for CMTPLI. «We need to understand that this is business. But no one will earn money on lives. A civilized solution of problems will be achieved,» he explained.

CMTPLI — a compulsory insurance of civil liability of vehicle owners to the third parties — will start operating in Kyrgyzstan from February 7, 2019.