President of Uzbekistan Islam Karimov signed a law “On introduction of changes and amendments to some legislative acts of Uzbekistan” on 30 April 2013.

The document was passed by Legislative Chamber on 20 March 2013 and approved by Senate on 28 March 2013. The law came into force on 1 May 2013.

In particular, the law abolished necessity to obtain permission to change insurer on agreement on mandatory insurance of civil liability of vehicle owners and agreement on mandatory insurance of civil liability of employees, as well as abolishment of insurance company.

The law also allowed the state supervision body and its employees to participate in charter capitals and management of Uzagrosugurta, Kafolat and Uzbekinvest. Earlier, they had no right to hold stake in the insurance company, manage companies and act as insurance mediators.

The document said that the regulator cannot refuse to reorganization of insurers on new reasons, which were not included to refusal notification, issued earlier.