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Roundtable to discuss analytical notes on insurance system
Roundtable to discuss analytical notes on “Current state, problems and development perspectives of the catastrophical risks insurance system in Uzbekistan” and “Regulatory impact assessment in insurance market”
Round table to discuss the analytical notes on “Current state, problems and development perspectives of the catastrophical risks insurance system in Uzbekistan” and “Regulatory impact assessment in insurance market” was held on November 25, 2009, in the conference hall of “Grand Mir” hotel in Tashkent. The roundtable was organized by the joint project of the Ministry of Finance of the Republic of Uzbekistan and the United Nations Development Programme, “Public Finance Reform in Uzbekistan” Project.
A crucial and one of the most dynamic clusters of the public finance system, is the insurance sector. In fact, a substantial attention has been paid to the enhancement of competitiveness of the existing insurance services, their development and quality improvement, adoption of modern insurance services, as well as facilitation of capitalization of insurance providers. Therefore, in order to sustain a sound regulatory and supervisory system to maintain efficient, safe, fair and stable insurance market, and promote further growth and competition in the sector, a substantial and consistent analytical support should be provided. With this in mind, the Project’s experts have been developing a series of analytical products regularly, aimed at promoting specific types of insurance and enhancement of the existing practice.
Particularly, analytical notes on “Current state, problems and development perspectives of the catastrophical risks insurance system in Uzbekistan” and “Regulatory impact assessment in insurance market” are being currently developed, and the given roundtable is focused on their wide discussion.
Over the course of the roundtable, the participants actively discussed the mechanism of insurance of the catasrophical risks most relevant in the conditions of Uzbekistan, the existing forms and methods of catastrophical risks insurance, the role of the state in supporting and regulating the insurance of catastrophical risks, as well as the existing issues in the area and their prospective solutions. Regarding the Regulatory impact assessment (RIA), the roundtable participants discussed the principles and methods of the given assessment, and analyzed the RIA’s role in insurance sector.
The discussion results represent a valuable data that will be used in further enhancement of the abovementioned analytical notes, and will contribute to the development of adequate institutional and analytical foundation for insurance sector.
Participants of the roundtable included the representatives of the Cabinet of Ministers of the Republic of Uzbekistan, State Insurance Supervisory Board under the Ministry of Finance, Chamber of Commerce and Industry of Uzbekistan, Association of Professional Participants of Uzbekistan Insurance Market, Federation of Consumer Rights Protection Society of Uzbekistan, Association of Credit Unions, National Association of Microfinance Organizations and Credit Unions, private companies, insurance companies, higher education institutions, international and community organizations.
It is important to note, that within the framework of the Project, the experts have already developed the following analytical products - “Enhancement of consumer rights protection mechanisms in the insurance sector”, “Current conditions, problems, and perspectives of insurance market in Uzbekistan”, “Development perspectives of mutual insurance”, “Agricultural insurance: international experience, current status and the perspectives of development in Uzbekistan”, “Perspectives of implementing health insurance in Uzbekistan”.
25.11.2009
