"The Antimonopoly Committee (AMC) completed the procedure for Agricultural Insurance Pool creation on November 7," the press-release said.
The registration is a mechanism for subsidized insurance in Ukraine, the press-release added.
According to the National Commission for Regulation of Financial Services Markets, this step will make arrangement of loans for agricultural producers easier.
The insurance companies whose activity comply with the requirements of the Law on Peculiarities of Agricultural Products Insurance with State Support are entitled to insure agricultural products with state support provided they are licensed by the National Commission on Securities and Stock Market and are members the Agricultural Insurance Pool, the press-release said.
As Ukrainian News earlier reported, the National Commission for Regulation of Financial Services Markets on October 9 licensed four insurance companies to insure agricultural risks. These are the Ukrainian Agrarian Company (Cherkasy), the Brokbusiness insurance company (Kyiv), the Insurance Guarantees insurance company (Donetsk), and the Dominant insurance company (Kyiv).
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UKRAINE: Antimonopoly Committee endorses Agricultural Insurance Pool creation