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Finance 29/09/2015 Uzbekinvest holds seminar on MICLT
Uzbekinvest holds seminar on MICLT
Tashkent, Uzbekistan (UzDaily.com) -- National export-import insurance company Uzbekinvest held a seminar to explain the law of Uzbekistan “On mandatory insurance of civil liabilities of transporters” (MICLT) to the public on 28 September 2015.

MPs of the legislative chamber, companies, who can provide MICLT insurance services, transporters and others attended the seminar.

It was noted that the law was adopted in May 2015 and will come into effect in November. The law is directed at guarantying compensation for harm to health and property during transportation.

Earlier, the law “On mandatory personal insurance of passengers of the air, railway, internal river and automobile transport of general use” from 1993 regulated the sphere. But the law did not guaranteed full compensation for damage to health, life and property of passengers. New law guarantees compensations to passengers of all types of transport in territory of Uzbekistan.

According to the Civil Code of Uzbekistan, transporter is responsible for damage caused to health and life of passenger, loss and damage of cargo and luggage. The new law is directed at ensuring payment of compensations to damage caused to cargo, luggage, health and life of passengers. It also guarantees compensations to passengers of all transport and character of transportation.

During the seminar, the participants familiarized with the peculiarities of new law and its execution.

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