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Uzbekistan 03/12/2007 Uzbek lawmakers review insurance sector activity

Lawmakers and other participants said that at the moment, certain work was being accomplished to ensure the implementation of the said law, local media reported.

In particular, the kinds of activities on rendering insurance are expanding in the country.

Nearly 20 insurance affiliate companies are now operating at Uzagrosugurta. About 90% of all insurance services nationwide account directly for the countryside area.

The company secured the rise of insurance payments compared to the same period last year by 31.6% and the volume of investments by 15%.

Lawmakers drew attention to some shortcomings in implementing the law. In particular, they said that the charter funds of insurance agencies at Uzagrosugurta have not been yet established. The registration bookkeeping continues to remain poor. Adding to that, the expired notes payable are poorly levied.

The meeting adopted a certain decision, which would serve as a guideline for the company to address the faults along its activity.
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