The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has adopted a resolution amending eight regulatory legal acts to update the framework for insurance activity, including changes affecting compulsory motor insurance pricing and market conduct. Key measures include lowering the cost of compulsory motor insurance for drivers entering into an insurance contract for the first time, setting insurer responsibility for the reliability of information submitted to the unified insurance database, and clarifying the calculation of coefficients under the bonus-malus system, including where access to state databases is limited. The package also expands the investment opportunities of the Insurance Payments Guarantee Fund, requires disclosure of information on insurance brokers’ activities including minimum and maximum commission levels, and introduces requirements for issuing insurance policies and for the technical functioning of insurers’ websites. The resolution was registered with Kazakhstan’s Ministry of Justice under No. 37693 and will generally enter into force 10 calendar days after first official publication, with the provisions on insurers’ website technical functioning taking effect from 1 February 2026.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-12-29
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan amends insurance regulations to lower first-time compulsory motor premiums and set new insurer and broker requirements
The Agency for Regulation and Development of the Financial Market of Kazakhstan amended eight regulatory acts, affecting compulsory motor insurance pricing and market conduct. Changes include reduced costs for first-time contracts, insurer responsibility for data reliability, expanded investment opportunities for the Insurance Payments Guarantee Fund, disclosure of brokers' commission levels, and technical requirements for insurers' websites.