Tashkent, Uzbekistan (UzDaily.com) -- A draft law “On compulsory types of insurance” has been posted for discussion. It has been prepared by the Fund for Guaranteeing Payments for Compulsory Civil Liability Insurance of Vehicle Owners, Norma.uz reports.

The draft law was prepared in accordance with the decree of the President UP-4412 "On measures to reform and ensure the accelerated development of the insurance market of the Republic of Uzbekistan."

The main goal of this document is to order relations in the field of compulsory types of insurance, to determine their general principles. The project was prepared by the Fund for guaranteeing payments for compulsory civil liability insurance of vehicle owners.

The draft law consists of 39 articles, which are aimed at disclosing and regulating the following aspects of insurance:

- basic concepts;

- types of compulsory insurance, their general principles;

- rights, obligations and responsibilities of subjects of compulsory types of insurance;

- conditions and procedure for compulsory types of insurance;

- conclusion of contracts of compulsory types of insurance;

- mechanisms of guaranteeing compensation for losses (damage, harm);

- control over the conclusion of contracts of compulsory types of insurance;

- formation and maintenance of a unified information system for compulsory types of insurance;

- formation of a compulsory insurance fund;

- regulation by the state of tariffs for compulsory types of insurance.