ZENNERS, CoB: Kazakh future Green Card policies' coverage may be initially limited to the neighbouring countries

"There is a strict financial discipline in the Green Card system and Kazakh motor insurers should prepare to observe it," Jean ZENNERS, President of CoB stated.

The Council of Bureaux (CoB) has already received the official applications to join the Green Card system from Georgia, Armenia and Algeria. "If Kazakhstan will also submit this request, we'll be glad to assist and discuss all the details," said Jean ZENNERS at the XIth edition of the International Conference "Insurance in Central Asia", in Almaty.

"There are legal and financial requirements in order to join the Green Card system, that covers 48 countries, 450 million vehicles, and 1.300 insurers so far; the scope is to facilitate the transportation, the economical exchanges and victims protection," explained Jean ZENNERS. Commenting on the Kazakhstan declared intentions to join the Green Card system, he emphasized: "If Kazakhstan wants to join the system, it should fulfil all the legal and financial requirements; the most important aspect is that there is a strict financial discipline in the Green Card system."

ZENNERS also made a a practice recommendation: "In our view, if Kazakh motor insurers will decide to start the procedure to access to the Green Card, they should limit the coverage of their future Green Card policies only for the neighbouring countries, therefore it is more convenient financially speaking and also more logic."

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

KAZAKHSTAN: S&P improved rating of EURASIA

Credit rating service of the international rating agency S&P Global Ratings on July 11 improved the issuer rating under the national scale rating of the insurance company EURASIA from kzAA- to kzAA+



Stefan STAVROSITU appointed Sales Director of GROUPAMA's Romanian unit

Groupama Asiguraari, the Romanian arm of the French group and of the leading players on he ocal market, has announced the appointment of Stefan STAVROSITU as National Sales Director, replacing Julien RAMILLION who, after holding this position for four years, will receive other responsibilities.



LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.


See all