Protection System for Policyholders
The Cabinet has approved an amended regulation aimed at protecting the rights of beneficiaries of insurance contracts and reducing the likelihood of insurance company insolvencies for the year 2026. The regulation seeks to enhance trust in the insurance sector by shifting from a default management model to a preventive approach, encouraging the merger of financially sound companies with those experiencing financial difficulties in line with current legislation. Merging or merged companies will receive discounts or exemptions on their contributions to the fund, with the goal of improving the management and efficiency of the fund's resources.
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