The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published a consumer explainer on KASKO voluntary motor insurance, focusing on how it can reduce the financial impact of natural disasters such as floods and inundation. It also distinguishes KASKO cover for damage to the insured vehicle from mandatory motor third-party liability insurance, which covers liability to third parties. The note describes KASKO as voluntary insurance that can cover losses from traffic accidents as well as events such as theft, fire and natural disasters, with the insurer required to compensate losses or pay for repairs in line with the contract terms. It cautions that standard KASKO programmes in Kazakhstan may not include all natural disaster risks and advises policyholders to choose extended cover that explicitly includes flood-related risks and to verify the insured risks list before purchase; it also points to the option of arranging policies online via insurers’ official websites and to additional materials on Fingramota.kz.

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