KYRGYZSTAN: minimum sums insured, limits of liability and rates approved for MTPL

28 March 2022 — Marina MAGNAVAL
The Cabinet of Ministers of the Kyrgyz Republic approved minimum amount of sums insured, limits of liability and insurance premium rates for MTPL, a source reports according to the press service of the Cabinet of Ministers.

The basic MTPL insurance premium was set at KGS 1,680. The coefficients of insurance rates for calculating insurance premium have also been approved.

"The sums insured have been established considering experience of the member states of the Eurasian Economic Union, in which MTPL has been operating for many years. At the same time, indicators of the standard of living of the population in the Kyrgyz Republic (average wages) were taken into account in the calculations", the press service said.

The Decree also approved the amount of sum insured and the limit of liability for MTPL. For causing harm to life or health of each victim and entailed: death of the victim - in the amount of KGS 300 thousand (~EUR 2,868*); establishment of disability for the victim of group I - in the amount of KGS 200 thousand; II group - in the amount of KGS 150 thousand; III group - in the amount of KGS 100 thousand; mutilation, injury or other damage to health without establishing disability - in the amount of the actual costs of treatment, but not more than KGS 100 thousand; for causing harm to property of the victims - in the amount of the damage caused, but not more than KGS 150 thousand for each victim and not more than KG 450 thousand for all victims.

*EUR 1 = KGS 104.60



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