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Finance 16/04/2011 Uzbek leader approves amendments to law MIACL
Uzbek leader approves amendments to law MIACL
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Islam Karimov signed a law “On introduction of changes and amendments to the law of Uzbekistan “On mandatory insurance of civil liability of vehicle owners” (MIACL) on 15 April 2011.

Legislative Chamber of Oliy Majlis of Uzbekistan approved the law on 18 March 2011 and Senate approved it on 25 March. The law came into force on 16 April 2011.

The law is directed at increasing efficiency of activity and developing automobile transport system of the country and rational use of existing vehicles fund.

The law is aimed at improving legislation on improving legislation on mandatory insurance of civil liability of vehicle owners and harmonization of some norms of existing legislation with current trends.

The document introduces changes and amendments on simplifying signing of MIACL agreement and protection of consumers of insurance services, as well as measures directed at implementing principle of guaranteeing compensation of damage to life, health and (or) property f victim in case when damage was caused by person, who illegally possessed vehicle, etc.

The amendments eliminated clause, which obliges vehicle owners sign MIACL agreement for a year before registration of the vehicle.

According to amendments, servicemen and those who were called to educational camps, as well as those who participated in military actions in Afghanistan and other states, will receive 50% discount from insurance premiums.

The law introduced additions to article 15 of the Law on MIACL, which sets order of issuing duplicate of insurance policy in case of its damage or loss. Earlier, the duplicate of the insurance policy issued only in case of its loss.

In line with the amendments, now compensation payments will be also paid at damaging health, life and (or) property of victim in the result of use of vehicle by person, who illegally possessed transport.

Fund for Guaranteeing payments on mandatory on insurance of civil liability of vehicle owners, which early was legal entity, now will be non-commercial organization, the document said.

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