The new decree simplifies the procedure of applying certain provisions of insurance legislation. For example, insurance companies now have an opportunity to sell voluntary insurance contracts in electronic form. Also, the minimal charter capital of insurance companies and brokers, as well as limits of insurance premiums and indemnities for certain types of compulsory insurance will be in national currency.
It is now also allowed to compensate repair after traffic accidents excluding wear of damaged steering parts, braking system, active safety system, based on the list, approved by the Belarusian Bureau of Transport Insurance. The increase of the limit of insurance indemnity for accidents documented without traffic police is aimed to simplify registration of traffic accidents for vehicle owners.