According to the deputy minister, the formation of the pool will occur through a portion of the insurance premiums from licensed insurance companies.
“All companies will combine their funds into a common fund. In the event of a major emergency, such as a mudflow, the damage will be covered from this pool, rather than by a single company,” explained Benazir Nurlanova. This mechanism will allow for the distribution of financial risks and ensure quick assistance to those affected.
Currently, four companies hold licenses to carry out this type of activity, which will operate under state control. The draft law also clarifies the government's powers to regulate the amount of the deductible, which will make the system more flexible and promote the construction of earthquake-resistant buildings.
Baktygul Abdijaliev, Deputy Chairman of the State Insurance Institution, noted that today about 30 percent of housing is insured, while two years ago this figure was around 10 percent. He emphasized that mandatory housing insurance is a social project; with the creation of the pool, responsibility will be distributed among all participants, and risks will be reduced.
The relevant committee of the Jogorku Kenesh supported in the first reading the draft law of the Kyrgyz Republic “On Amendments to Certain Legislative Acts (to the Civil Code and the Law on Mandatory Insurance of Residential Premises Against Fire and Natural Disasters).”
