Parliamentary fiscal committee recommends Rada to adopt draft law on insurance
The parliamentary committee on finance and banking at a meeting on May 19 decided to recommend MPs to adopt the bill on insurance (No. 1797-1), authored by Serhiy Rybalka, Maksym Poliakov, Oleh Lavryk, Oleksandr Zholobetsky, Viktor Romaniuk, Pavlo Rizanenko, Serhiy Martyniak, and Borys Kozyr.
According to an agency correspondent, at the same time the deputies noted that some provisions of the bill should be improved. This could be done during the preparation of the document for second reading.
According to committee member Ruslan Demchak, the bill has to provide for the establishment of a structure in the insurance market similar to the Individuals' Deposit Guarantee Fund that will allow to easily withdraw problem companies from the market.
Talking about the norms of the bill that require revision, President of the Ukrainian Insurance Federation Andriy Peretiazhko noted that this is the creation of a self-regulating organization with the mandatory participation of all insurance companies in it.
"We are against the obligatory participation of insurers in the self-regulating organization. Some 400 companies have licenses for insurance in Ukraine, however only 100 are engaged in actual insurance. It is necessary to clear the market and only then come back to this issue. It will be possible in three or four years," he said.