Insurance State Supervision Service of Georgia opens International Consumer Protection Week and highlights new insurance consumer protection standards

The Insurance State Supervision Service of Georgia published an update from the opening of the Third International Consumer Protection Week, which it co-organised with five other Georgian regulators, outlining developments in the insurance sector and recent consumer protection measures. In remarks at the event, the Service’s head reported that the insurance market grew by 19% in 2024 and framed the consumer protection agenda around closer alignment with European standards, including work linked to obligations under the Association Agreement. The update highlighted the introduction of minimum requirements for travel insurance from 1 March 2024, a recommendation clarifying grounds for refusing claims based on gross negligence in damage insurance, and a customer information standard on debt and insurance policy termination that was developed in 2024 and enacted in 2025. It also referenced the new Law on Voluntary Private Pensions and noted international engagement, including the election of Davit Onoprishvili to the International Association of Insurance Supervisors and plans for Georgia to host the 24th International Conference of Insurance Supervisors of Central, Eastern and Southeastern Europe in 2025, with delegations from 20 countries. As part of Consumer Protection Week, the organisers scheduled public information meetings on 12 March in Akhalkalaki, 14 March in Zugdidi, and 15 March in Batumi, with a stated focus on outreach to ethnic minorities and persons with disabilities.