Insurance certificate becomes mandatory for real estate transactions in KR
Insurance certificate has become mandatory for real estate transactions in Kyrgyzstan. The resolution was adopted by the Cabinet of Ministers.
According to the document, it is impossible to buy, sell or pledge housing without insurance against fires and natural disasters. The Service for Regulation and Supervision over the Financial Market noted that recent mudflows in the regions remind of the importance of home insurance.
Insurance services in seven branches located in each region of the republic are provided by the State Insurance Organization OJSC. Their addresses can be found here.
State home insurance in cities costs 1,200 soms, in rural areas — 600 soms. There is also a voluntary individual tariff, amounting to 0.3 percent of the actual cost of housing.
