Belarus: Finance ministry issues standards for safe operations for insurersReprints
The Finance Ministry of Belarus recently introduced standards to ensure proper operation of insurers, reports Forinsurer.
The standards stipulate that insurers must maintain proper records of their activities and finances. Premium volume from direct insurance and coinsurance during the first half of 2014 totaled 3.6 trillion Belarusian rubles ($353 million), 7.4% year on year increase. Payouts during the period totaled BYR 1.5 trillion, Forinsurer reported.