LIOU invites to work on the project of implementation in Ukraine on liability insurance of private enforcement
Date: 02.08.2016. Section: News LIOU, ActualOn August 2 at the Ministry of Justice of Ukraine a round table was held, the theme of which was to discuss the necessary conditions and mechanisms for the implementation of private liability insurance performers. League of Insurance Organizations of Ukraine at the meeting was presented by the President LIOU Alexander Filonyuk and Vice President of LIOU Larissa Holozubova.
Also, from the League of Insurance Organizations of Ukraine in the round table participated General Director of JSC “IC” ASKA “Andriy Shukatko, Director of Legal Department IC “PZU Ukraine” Vasiliy Zubach, Director IC “Ukrfinstrah “Galina Kim, experts of insurance company” UNIQA” Elena Akusova and Julia Kamenyaka and expert IC “Providna”.
From the Ministry of Justice of Ukraine took part in the work Deputy Minister of Executive Service Sergei Shkliar and the EU project “Support for Justice Reforms in Ukraine” presented Coordinator Dovidas Vitkauskas and national experts on sector policy and coordination reforms Denis Paschenko.
June 2, 2016 the Verkhovna Rada of Ukraine adopted the Law of Ukraine “On the bodies and persons engaged in the enforcement of court decisions and decisions of other authorities» №1403-VIII, which was introduced in Ukraine institute of private executors. The law will come into force on October 5, 2016.
Article 24 of the pointed Act requires liability insurance of private enforcement, which is a prerequisite for the start of their activities. It is expected that the first private performers (on forecasts of Justice – in 1 year of activity there will be about 1,000, in the future – more. Limits on access to the activities of private enforcement is not set) will receive the appropriate certificate in late 2016 and will begin their activities provided adequate liability insurance from 5 January 2017.
By the results of the discussions in frames of the League of Insurance Organizations of Ukraine will be carried out work on developing recommendations on these areas, which will then be submitted for posting on the Ministry of Justice of Ukraine. In parallel, plans to explore and adapt foreign experience regarding liability insurance for private enforcement of legislation and requirements of Ukraine.
It is expected that the main clients of private enforcement will be banks, insurance companies, commercial organizations of various sectors and individuals who receive much better service and faster, particularly for debt collection.
According to participants, the timely and successful launch of private executors give significant impetus to the recovery of the financial and commercial sectors of the state.
League of Insurance Organizations of Ukraine invites all interested to join the project work, call tel. 516 82 30 or send suggestions to larysa@uainsur.com