The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has developed a draft Board resolution proposing changes to eight regulatory legal acts to improve the regulation of insurance activity, with a focus on data quality, operational processes and market transparency. The proposals would establish insurers’ responsibility for the accuracy of information submitted to the Unified Insurance Database (BSDQ), refine the calculation of “bonus-malus” coefficients including where access to state databases is limited, and require the provision of information on technical disruptions and other circumstances that restrict BSDQ operation. The draft also envisages expanding the investment possibilities of the Insurance Payments Guarantee Fund, requiring publication of information on insurance brokers’ activities including minimum and maximum commission amounts, and setting requirements for issuing insurance policies, alongside editorial clarifications following legal monitoring to align provisions with existing legislation. The draft has been posted on the Open NLA online portal, and the full text is also available on the Agency’s website under the “Regulatory legal framework” section.

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