According to the Resolution of the President of the Republic of Uzbekistan dated September 2, 2023 No. PP-291 “On additional measures for the development of the capital market,” the National Agency for Prospective Projects (Agency) is assigned with the tasks and functions of monitoring the insurance market.

One of the main tasks of the insurance regulator is to protect the rights and interests of consumers of insurance services. The Agency monitors the payment of insurance compensation by insurance organizations on a daily basis based on incoming requests.

During the period from September to December of this year, the authorized state body received over one thousand requests from citizens about late payment or unjustified refusal to pay for insurance cases. After the Agency’s intervention, in more than 580 cases, consumers of insurance services were paid over 5.6 billion soums and appropriate explanations were given accordingly.

It should be noted that the work on considering appeals continues and new mechanisms are being developed to ensure the protection of the rights and interests of consumers of insurance services.