KAZAKHSTAN and RUSSIA may unify car insurance rates by 2015

6 May 2014 —
Russia and Kazakhstan intend to unify car insurance rates by 2015, Chairman of the Competition Protection Agency Galym Orazbakov announced at a briefing in the Central Communications Service.

"We, as the official body, appealed to the National Bank of Kazakhstan, and they (National Bank) now are studying this issue with the Association of Financiers. It is planned to make an official proposal to the Eurasian Economic Commission to equalize the rates. I think that starting from the next year it will be fixed up, because it takes time to match (the rates): either reduce Russian or raise Kazakh ones," he said.

According to him, at the moment there is a significant difference between car insurance rates on the territories of the Russian Federation and Kazakhstan, the website of the Prime Minister reported.

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KAZAKHSTAN and RUSSIA may unify car insurance rates by 2015
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