At the end of 2022, the Association took the initiative to extend the existing NBU regulations to insurers and to grant insurers the right to use signatures of individuals created on the screen of an electronic touchscreen device (stylus, finger, etc.) in their activities. In response to market needs, the National Bank of Ukraine proposed an updated vision of the use of digital signatures in financial services in March.
Together with the Association’s members, the NAIU Office worked on the draft NBU Regulation “On Approval of the Regulation on the Use of Electronic Signatures and Electronic Seals”, held meetings and agreed on the NAIU’s position.
As a result of the joint work, it was determined that it is important to distinguish between the tools for signing electronic contracts with electronic signatures, as described in the Regulation, and the method of conclusion provided for by the Law of Ukraine “On Electronic Commerce”.
It was also proposed to clarify the use of certain types of electronic signatures, for example, to allow employees to use their own electronic signatures with simultaneous confirmation of their authority, and to allow the use of digital handwritten signatures for documents created and stored by insurers for more than 10 years, etc.
The proposals of the National Association of Insurers are intended to improve and clarify the content of the Regulation without changing the overall concept of the document, as the Association believes that the draft law on the use of electronic signatures proposed by the NBU is timely and meets the needs of insurers and serves the development of the market.
