Tashkent, Uzbekistan (UzDaily.com) -- At the eighteenth plenary meeting of the Senate of the Oliy Majlis, the Law of the Republic of Uzbekistan "On insurance activities" was discussed.

It was noted that this Law is aimed at regulating insurance activities, introducing advanced international experience in this area, protecting the rights and legitimate interests of consumers in the field of insurance. It is also envisaged to increase the insurance culture of the population at the same time as increasing and ensuring the sustainability of types of insurance.

The Law clearly defines the rights and obligations of professional participants in the insurance market (insurance organizations, insurance brokers, adjusters, assistants, actuaries, surveyors).

The process of concluding insurance contracts in electronic form via the Internet is also enshrined in legislation.

A number of new norms of the document are important in that they are aimed at strengthening the protection of the rights of consumers of insurance services and other subjects of insurance activities, increasing the insurance literacy of the population and strengthening their confidence in insurance, ensuring the openness and transparency of the insurance market. It should also be noted that the comprehensively drafted Law is based on proven national practice and international insurance principles.

The law establishes that insurance contracts are now concluded only in the state language.

In general, the Law is aimed at solving many problems in the field of insurance. In particular, this Law covers issues such as revitalizing the activities of professional participants in the insurance market, as well as developing and expanding the infrastructure of the insurance market by increasing the role of professional participants in the common insurance market, strengthening the protection of the rights of consumers of insurance services and other subjects of insurance activities, increasing literacy and trust. population to them, ensuring openness and transparency of the insurance market.

The law was approved by the senators.