Home insurance coverage in Kyrgyzstan reaches 17 percent only
Home insurance coverage in Kyrgyzstan is only 17 percent. Azat Kendirbaev, Deputy Head of the Insurance and Reinsurance Department at State Insurance Organization JSC, said during an interview on Birinchi Radio.
According to him, these figures were registered as of November 2024. Kendirbaev admitted that the practice of insurance among Kyrgyzstanis is not widespread, despite the mandatory insurance law being in effect since 2016.
One of the reasons, he noted, is the local mentality.
«What do our people think? It’ll probably be fine, God will protect us,» he said, adding that citizens only purchase insurance when they are forced to do so.
A total of 203,839 residential premises were insured under the mandatory insurance program for 10 months of 2024.
«Unfortunately, this is not even half,» the State Insurance Organization representative said.
