Majilis approves amendments to Law on compulsory and mutual insurance
12:58, 10 June 2009
ASTANA. June 10. KAZINFORM /Muratbek Makulbekov/ The Kazakh Majilis has approved the draft Law ?On amendments to some legislative acts of Kazakhstan on compulsory and mutual insurance? in the first reading at a plenary session; Kazinform correspondent reports.
The draft Law was developed to address the issues in the part of legal regulation in the sphere of obligatory and mutual insurance and to provide an adequate level of insurance coverage for citizens and economic entities.
Majilismen amended a number of proposals and corrections during the work over the draft Law. In particular they propose to extend the competence of the authorized body on regulation and supervision of the financial market and financial organizations; to increase the size of insurance payments for hospital treatment from two up to ten MCI (Minimum Calculation Index) as well as to fix payments for burial in case of death of the victim amounted to 100 MCI.