of April 14, 2025 No. ZRU-1056
About insurance of agricultural risks
Accepted by Legislative house on March 4, 2025
Approved by the Senate on March 17, 2025
The purpose of this Law is regulation of the relations in insurance field of agricultural risks.
This Law extends to the relations connected with risks, subject to insurance in agricultural industry, the conclusion of the insurance contract of agricultural risks (further - the agreement of agricultural insurance) and reinsurance implementation, the organization of Fund of agricultural insurance when implementing insurance of agricultural risks, the income and expenses of this Fund, providing subsidies on insurance premiums, determination of damage under the agreement of agricultural insurance and payment of insurance indemnities, and also coordination of insurance of agricultural risks by the state.
The legislation on insurance of agricultural risks consists of this Law and other acts of the legislation.
If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about insurance of agricultural risks then are applied rules of the international treaty.
In this Law the following basic concepts are applied:
the intermediary - the legal entity who was registered in accordance with the established procedure by the Information system of agricultural insurance and signing the agreement of agricultural insurance on behalf of Fund of agricultural insurance;
the independent expert - the physical person having appropriate authority and the certificate of the independent expert studying risk of loss occurrence performing survey of object of agricultural insurance after loss occurrence determining availability of insured event, and also the extent of the damage caused by insured event;
remuneration for services - the payment paid to the intermediary and the independent expert in agricultural insurance;
the producer of agricultural products - the animal and vegetable production made grown up by producers of agricultural products;
agricultural products - the animal and vegetable production made by producers of agricultural products.
The basic principles of insurance of agricultural risks are:
legality;
openness and transparency;
guarantee of compensation of damage caused to insured agricultural products;
corruption non-admission.
Producers of agricultural products based on requirements of this Law and rules of agricultural insurance in case of production of agricultural products sign agreements of agricultural insurance on one or several following risks:
natural and technogenic disasters;
fire;
damage of plants by wreckers and diseases;
spread of infectious diseases and poisoning of farm animals;
damage of crops or harming farm animals by wild animals;
actions of the third parties.
The Ministry of Agriculture of the Republic of Uzbekistan is the state body coordinating realization of insurance of agricultural risks (further - the coordinating state body).
The coordinating state body:
takes measures for ensuring efficiency and transparency of development and deployment of programs for the organization and development of insurance of agricultural risks (further - agricultural insurance);
conducts the information system including processes of rendering services in execution of the agreement and the policy of agricultural insurance, receipt of budget subsidy for insurance premium, considerations of the applications on insurance indemnity;
stimulates carrying out researches on agricultural risks and protection against them;
takes measures for advanced training of specialists in the field of agricultural insurance;
develops offers on payment of part of insurance premiums and sizing of budget subsidies on insurance indemnities for the purpose of the state support of agricultural insurance;
controls accounting on the allocated budget subsidies;
will organize the scientific and practical seminars, conferences, trainings devoted to questions of development of agricultural insurance;
develops suggestions for improvement, to development of agricultural insurance and entering of corresponding changes into acts of the legislation.
performs international backgrounds in the field of agricultural insurance.
The coordinating state body can perform also other powers according to the legislation.
The state support of agricultural insurance is performed by allocation of budget subsidies for covering of part of insurance premiums and that part of the caused damage which is not compensated for the account of insurance premiums and means of reinsurance.
The budget subsidy is annually provided in the Law on the Government budget of the Republic of Uzbekistan for the next year based on budget request of the coordinating state body.
In case of early agreement cancelation of agricultural insurance part of the insurance premium paid for the account of budget subsidy remains on the settlement account of Fund of agricultural insurance and is spent for the conclusion of new insurance agreements according to this Law.
Control of activities in the field of agricultural insurance according to requirements of the legislation is exercised by the authorized state body regulating insurance activity.
The coordinating state body provides control of the organization, development of agricultural insurance, its efficiency and transparency, collection of insurance premiums and implementation of insurance indemnities at the scheduled time.
For the purpose of management of agricultural insurance, protection of producers of agricultural products against different risks and compensation of damage by the Cabinet of Ministers of the Republic of Uzbekistan as the agricultural insurer the Fund of agricultural insurance is created (further - Fund).
The fund performs functions of the insurer according to the procedure, established present By the law, without license. At the same time, this rule does not exempt Fund when implementing activities of insurance (reinsurance) upon accomplishment of licensed requirements and conditions.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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