The upper limit of the insurance payment amount is being determined.
“Elchi” reports that this is reflected in the proposed amendment to the Law “On compulsory insurance against loss of professional working capacity as a result of industrial accidents and occupational diseases,” which was discussed at today’s session of the Milli Majlis.
In order to maintain the stability of the insurance fund, ensure the predictability of the system, and protect the payment balance between high-income and middle-income individuals, the draft proposes that in cases where a one-time insurance payment is provided, the calculated insurance payment amount shall be determined and paid not exceeding one thousand times the minimum monthly wage.
It was noted that regulating this limit will allow for defining the volume of risks as well as the scope of the insurer’s liability. Otherwise, the unmanageability of the risk could lead to a weakening of the insurance system, thereby creating difficulties in fulfilling obligations to the insured.
The draft law was put to a vote and adopted in the first reading.