draft laws

№1797-1 Draft law on insurance

The aim of a draft law

Aimed at:
– increasing the level of consumer protection and insurance services due to the necessary changes in the legal framework related to Ukraine’s accession to the WTO and the harmonization of Ukrainian laws with the EU insurance legislation
– improving monitoring of insurers’ activities and their compliance with the requirements on solvency, financial stability, and state regulation of insurance mediation
– the introduction of European standards for risk classification in the insurance sector, improving the procedure of licensing of insurers, and strengthening requirements for the formation of regulatory capital
– the introduction of international standards of corporate governance and prudential supervision
– increasing protection of policyholders and developing long-term life insurance.

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