NAIU workshop: implementation of Chapter 13 of the new Law of Ukraine “On insurance”

The NAIU office, together with the members of the Association, continues the path of research and development

The NAIU office, together with the members of the Association, continues the path of research and development.

One of the areas of activity of the Association is informational, advisory, methodical and organizational support of its participants, as well as promotion of improvement of their qualifications and level of professionalism.

We are interested in the professionalism of our members, which is a guarantee of high-quality services for clients of insurance services, and we are glad to use the potential of the Association’s employees to help with this. Consolidating the expertise of the staff of the NASU office, the Association provides methodological support to participants and is currently concentrating on preparing for the new Law of Ukraine “On Insurance”.

Yesterday, July 5, the NAIU office held an exclusive seminar for its participants on the implementation of Section 13 of the new Law of Ukraine “On Insurance”. At the meeting, all novelties of the new law regarding the structure and content of insurance products, as well as requirements for pre-contractual activities, were presented in detail. Special attention was paid to the internal policies of the insurer, which are related to the development, implementation and sale of insurance products, the general conditions of the insurance product and information about the standard insurance product.
Examples of the implementation of similar norms in the European Union and banking legislation were given. During the preparation of the seminar, the norms of the new Law, projects based on the NBU regulation concept, European directives, and best practices in the field of pre-contractual activities were analyzed and used. In addition to the seminar, the participants were provided with materials with detailed methodological recommendations.

The seminar was prepared and conducted by NAIU experts and aroused wide interest among the Association’s participants. Among those present were managers of insurers, underwriters and methodologists, managers and sales specialists, auditors and lawyers. At the end of the seminar, there was a lively discussion on some practical issues of implementing the requirements of the new Law.
The holding of the seminar was a continuation of a series of measures implemented by the NAIU office to support its participants within the framework of the implementation of the new Law of Ukraine “On Insurance”, which will enter into force on January 1, 2024. Given the interest of the participants in the event, the Association is already preparing materials for the next meetings, and the seminar on pre-contractual activities will be held again for the participants who did not join yesterday.
NASU does not stop and continues to implement the best practices in the insurance market and to contribute to the development of a solvent, stable, competitive insurance market in Ukraine with proper protection of the rights of consumers of insurance services.