At the 14th Congress of Financiers of Kazakhstan, Nurzhan Tursynkhanov, deputy chair of Kazakhstan’s Agency for Regulation and Development of the Financial Market, outlined planned changes to compulsory insurance pricing, claims settlement and disaster protection. The discussion elaborated on the 2026-2030 insurance market development program, approved jointly by the agency and the National Bank of Kazakhstan on Oct. 30. Compulsory home insurance against natural disasters remains a central initiative. Around 75% of Kazakhstan’s territory faces high disaster risks, but only 3.2% of its housing stock has disaster insurance. The proposed system would accumulate resources in advance to support affected households and reduce reliance on the state budget.
A unified compulsory insurance model would allow insurers to set premiums within a tariff band according to individual customer risks. For compulsory motor insurance, planned direct settlement would let accident victims claim from their own insurer regardless of which company insures the responsible driver, with subsequent settlement between insurers. Customers would also be able to choose between a cash payment and repairs at an insurer’s repair center. A common reference guide for spare parts and repair prices, maintained by the insurers’ association, would support more objective damage assessments. Occupational accident insurance reforms would revise risk assessment and tariff calculation methods using actuarial calculations.
Distribution reforms distinguish measures already adopted from further proposals. An Oct. 30 agency board resolution provides for mandatory disclosure of agents’ commissions in contracts and policies. Further plans would expand agents’ and brokers’ permitted activities while strengthening qualification and professional responsibility requirements. Intermediaries assisting with claims and payouts would face separate requirements, including mandatory registration and written client agreements. The draft Insurance Market Law would modernize the regulatory framework, revise insurance classifications and remove redundant requirements. Submission to the Kurultai is planned by the end of 2026.