Kyrgyz President Sadyr Japarov recently visited the State Insurance Organization to stress the importance of insurance for citizen safety and highlight the government's role in supporting the sector. Japarov pointed out the historical lack of government support in insurance, which has resulted in low coverage levels.
Currently, Kyrgyzstan is home to one state and 14 private insurance companies. The President announced the government's commitment to supporting and developing the insurance sector. Various measures have been implemented to bolster the industry, including a capital increase for the State Insurance Organization.
Japarov issued a decree mandating that state and municipal entities, as well as companies with over 50% state ownership, must insure their assets with the State Insurance Organization. He encouraged individuals to register with the State Insurance Organization for dependable protection of their assets and vehicles.
