KAZAKHSTAN: The number of mandatory insurance will be reduced
National Financial Markets Supervision Agency of Kazakhstan will take
all needed measures to restructure the mandatory insurance system,
and it is not excluded that some of compulsory insurance be removed,
according to INTERFAX - Kazakhstan.
"We don't want an expansion of compulsoriness in insurance
market and we will also take in consideration the possibility to reduce
the
number of mandatory insurance types. The development of insurance market
should be driven by the voluntary segment", said Dileara KARAKULOVA, Director
of the Department of Insurance Supervision.
KARAKULOVA noted the fact that "in present, on Kazakhstan insurance
market there are nine types of mandatory insurance and none fulfills
the functions for which it was introduced".
