Also, NBU, as a regulator of the insurance market, recommends that insurers simplify the procedure for settling insurance events, as to make maximum use of electronic documents, copies of necessary documents if it is impossible or difficult to obtain originals, and other means of remote settlement of insured events.
According to the resolutions of the NBU Board dated February 24, 2022, settlements in foreign currency are temporarily limited. NBU recommends that insurers carry out necessary communications with foreign brokers and reinsurers to extend the terms of reinsurance payments for a period until restrictions on foreign exchange payments are lifted.
During martial law, NBU will not conduct inspections of participants in the insurance and non-banking financial services market.
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