LIOU member companies on life insurance working on a draft decree “On approval of requirements to the method of calculation of the redemption amount”
Date: 07.12.2016. Section: News LIOU, ActualDecember 7 at National Commission for State Regulation of Financial Services Markets on the initiative of the League of Insurance Organizations of Ukraine was held a meeting, the theme of which was to discuss the regulator published draft order “On approval of requirements to the method of calculation of the redemption amount.”
The document, published on the website of the National Commission for State Regulation of Financial Services Markets developed according to part eight of article 28 of the Law of Ukraine “On insurance”, subparagraph 15 of paragraph 6 of the Regulations on the National Commission for State Regulation of Financial Markets services, approved by the President of Ukraine from November 23, 2011 №1070.
According to a member of National commission Zaletov Alexander, the main purpose of the document – within the law and to the existing possibilities of regulations to develop a document that will protect life insurance company’s customers on maximum and keep the reputation of insurers.
Their comments and suggestions for further order processing project voiced Sergei Tarasov, Deputy Chairman of the IC “Blakitniy polis”, and Andrey Vlasenko, Chairman of LIOU on life insurance, CEO of IC “TAS”.
During the meeting decided to send to National commission document that wil consolidate position of Regulator and comments LIOU member companies and record the maximum liability of the insurer if the life insurance contract does not define the size of the guaranteed minimum redemption amount according to the period of the contract in absolute value or a percentage of the insurance premiums paid that uniquely defines the minimum guaranteed amount of the redemption amount on any date of the contract.
The meeting was attended by members of National commission Alexander Zaletov, representatives of insurance companies, members of the League of Insurance Organizations of Ukraine “ASKA-Life”, “Blakitnuy polis”, “PZU Ukraine”, “TAS”. From the League of Insurance Organizations of Ukraine the meeting was attended by LIOU President Alexander Filonyuk, Vice President Larisa Holozubova, LIOU Advisor Natalia Hudyma and director on information policy department of LIOU Irina Denisova.