The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has outlined a reform of compulsory employee accident insurance under the draft Insurance Market Development Program through 2030. The proposed risk-based model would link premiums to both occupational risk and an employer’s own record, including accident frequency and severity, claims history, working conditions and verified prevention measures. Employers that reduce workplace risks could receive discounts, while those with high injury rates would pay more under uniform rules intended to prevent unjustified tariff reductions. The reform would use the planned independent Central Actuary to calculate base rates and regularly assess tariff corridors, reserves and financial sustainability. Insurers would price individual contracts within regulatory limits. The agency is also considering separating direct workplace injury benefits from longer-term protection for employees in hazardous conditions, including pre-retirement annuities. Existing contracts and accrued rights would be honored, with an inventory and category-specific transition arrangements preceding implementation. The changes respond to rising costs after rehabilitation mechanisms and additional benefits were introduced in 2024 without tariff increases. By early 2026, the market’s average loss ratio had reached 55%, rising to 80% at some insurers. Payments totaled KZT 45.2 billion in 2025, more than three times the 2023 level, while expected payments on incurred claims stood at KZT 285.7 billion, up 61% from 2023.

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