Lukashenko signed decree on insurance

On March 18th, President of Belarus Aleksandr Lukashenko signed Decree No. 108 On Insurance. The document brings certain legislative acts in line with the Law on Insurance Activities, which came into force on January 1st, 2025, BelTA reports with reference to the Head of State’s press service.

In particular, a number of decrees (their individual structural elements), the provisions of which are reflected in the law, are recognised as invalid. The terminology used in legal acts, including in related legislation (on taxation, currency, banking and road traffic), is being adjusted in order to harmonise it with the provisions of the law.

Among the innovations of the decree are the possibility of paying insurance premiums (payments) in a non-cash form using modern means of payment; the fixing of insurance amounts and insurance premium amounts in basic units (previously they were in Euros) for the compulsory insurance of transport owners and medical insurance of temporarily staying foreign citizens.

In addition, the contract of compulsory civil liability insurance for vehicle owners is supplemented by the Union State insurance contract in force in Belarus and Russia.

The procedure for insurance payments to victims of road accidents is determined in cases where a carrier has not concluded a contract of compulsory liability insurance for a passenger and it is impossible to recover damages in court. In cases of payments to drivers from the guarantee funds, damage to life or health as a result of an accident involving wild animals has been added, regardless of the driver’s fault.

The decree envisages the possibility of making insurance indemnity payments to a non-resident in foreign currency under a resident’s civil liability insurance contract in connection with an export contract.

For compulsory insurance against accidents at work and occupational diseases, limits have been set on the amounts that can be recovered by Belgosstrakh [a state-owned insurance company] from those responsible for causing damage to insured persons on the basis of the insurance cover paid to them (2,000 basic units in case of an intentional damage, 500 in the case of non-intentional damage). The conditions for the policyholder to obtain payment in instalments of overdue insurance premiums, fines and penalties have been simplified.

The decree also introduces a number of restrictions on the activities of insurance intermediaries.