A number of factors contributed to the revision of the insurance rate.

In recent years, the number of requests from vehicle owners for non-payment of insurance indemnities by insurance companies within the established time frame and for insufficient maximum amount of payment to cover the damage caused has increased.

According to the analysis, the amount of the insurance premium in the amount of 56,000 soums, approved in 2019, is insufficient to cover the losses of insurance organizations. In this regard, payments are delayed in various ways.

For reference: in 2023, the loss rate in the city of Tashkent amounted to 146%.

Also, the insurance amount of 40 million soums, established in 2019, does not sufficiently compensate for the costs of victims of road accidents.

According to World Bank statistics, the consumer price index in Uzbekistan has increased by 160% over the past 5 years, the minimum wage has increased by 265%, and the base rate has increased by 168%.

In addition, the insurance amount and insurance premium established in our republic are currently the lowest in comparison with both neighboring and foreign countries.

As a solution to this problem, as a result of reasonable calculations, it is planned to determine the optimal insurance rates and the insurance amount for vehicle owners and insurance organizations.

Suggestions for determining new insurance rates and the sum insured can be sent to the Napp_connect_bot Telegram bot.