In Uzbekistan, an increase in compulsory motor third-party liability insurance (OSAGO) rates is planned. The National Agency for Perspective Projects (NAPP) is reviewing prices set in 2019 and calls the current rates unprofitable.

NAPP reported that the number of complaints from vehicle owners about insurance companies has significantly increased. Drivers note delays in payments and the insufficiency of maximum compensation amounts to cover damage.

A study showed that the annual insurance premium of 56,000 UZS set in 2019 does not cover the losses of insurance companies. As a result, payments are delayed, NAPP explained.

In 2023, the level of loss ratio for insurance companies in Tashkent reached 146%, according to regulators.

"The insurance amount of 40 million UZS set in 2019 does not sufficiently compensate for the expenses of those injured in RTAs," the agency's statement said.

The consumer price index in Uzbekistan has increased by 160% over the past five years, and the minimum wage by 265%.

NAPP noted that the current insurance amounts and premiums are the lowest in the region. As a solution, it is proposed to set optimal rates and insurance amounts for vehicle owners and insurance companies based on substantiated calculations.