Accused insurance is being introduced in Belarus

A new form of insurance is being introduced in Belarus - insured insurance. This is provided for by the bill "On insurance activities", which was adopted by deputies in the second reading.

The draft law is aimed at equalizing the conditions of activity of insurance organizations of different forms of ownership, and also provides for the expansion of insurance objects, establishing requirements for the corporate management system in insurance organizations, changing approaches to guaranteeing insurance payments by the state, creating conditions for the further development of types of insurance, relating to life insurance, introduction of a new form - accused insurance. Its distinctive feature is the requirement to have an insurance contract as a mandatory condition for carrying out certain activities or receiving certain benefits and benefits.

As the Standing Committee on Budget and Finance of the House of Representatives explained, the accused insurance is widespread in the world, many countries have been using this type of insurance for a long time. This will concern legal entities and individual entrepreneurs, primarily transporters, realtors, and crisis managers.

The bill also expands the objects of insurance, defines the norms of the statutory fund of insurers.