ZENNERS, CoB: Kazakh future Green Card policies' coverage may be initially limited to the neighbouring countries

13 April 2017 — Oleg DORONCEANU
Zenners"There is a strict financial discipline in the Green Card system and Kazakh motor insurers should prepare to observe it," Jean ZENNERS, President of CoB stated.

The Council of Bureaux (CoB) has already received the official applications to join the Green Card system from Georgia, Armenia and Algeria. "If Kazakhstan will also submit this request, we'll be glad to assist and discuss all the details," said Jean ZENNERS at the XIth edition of the International Conference "Insurance in Central Asia", in Almaty.

"There are legal and financial requirements in order to join the Green Card system, that covers 48 countries, 450 million vehicles, and 1.300 insurers so far; the scope is to facilitate the transportation, the economical exchanges and victims protection," explained Jean ZENNERS. Commenting on the Kazakhstan declared intentions to join the Green Card system, he emphasized: "If Kazakhstan wants to join the system, it should fulfil all the legal and financial requirements; the most important aspect is that there is a strict financial discipline in the Green Card system."

ZENNERS also made a a practice recommendation: "In our view, if Kazakh motor insurers will decide to start the procedure to access to the Green Card, they should limit the coverage of their future Green Card policies only for the neighbouring countries, therefore it is more convenient financially speaking and also more logic."

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