Uzbek president orders to digitise insurance system
Uzbek president orders to digitise insurance system
Uzbekistan President Shavkat Mirziyoyev adopted a decree, providing for the digitalisation of the insurance sector.
From July 1, 2022, according to the document, all types (classes) of insurance would be made in electronic form.
From January 1, 2023, the practice of issuing insurance policies on paper forms for all types of compulsory insurance would be abolished.
From January 1, 2022 to January 1, 2025, the income tax rate calculated under life insurance would be reduced by 50%.
Funds sent by the employer in the period from January 1, 2022 to January 1, 2024 to legal entities licensed to carry out insurance activities in Uzbekistan on the basis of accident insurance and medical insurance contracts are not considered as the total income of individuals.
Until June 1, 2022, a unified automated information system for registration of all insurance policies and control over their turnover will be implemented on the basis of the unified information system for compulsory civil liability insurance of vehicle owners.
Registration of insurance contracts through a Single information system is mandatory for insurance organizations.
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