OFFICIAL STATEMENT
   Regarding the article entitled "Is an entrepreneur in Surkhandarya going bankrupt?"
   "MY INSURANCE" JSC hereby informs the following regarding the material entitled "Is an entrepreneur in Surkhandarya going bankrupt?" published in some online publications and social networks.

   This article concludes that the insurance organization is not fulfilling its contractual obligations, that insurance compensation is not being paid unreasonably, and that company officials have committed violations of the law. However, this material takes a one-sided approach without fully studying the legal and contractual aspects of the situation.

   1. An insured event did not occur
The article claims that the insurance company refused to pay insurance compensation.
In practice, in accordance with clause 5.1 of the tripartite insurance agreement concluded between the "X.S" farm, "M" JSCB and "MY INSURANCE" JSC, an insured event is considered to be:
— the adoption of a final court ruling on liquidation in bankruptcy proceedings against the debtor legal entity;
— all mandatory enforcement actions on subsidiary liability against the debtor's manager, founder or participants are carried out and they are ineffective;
— the expiration of the waiting period specified in the agreement
.
In the current case, the conditions of this agreement have not been fully fulfilled, and accordingly, an insured event has not occurred and the obligation to pay insurance compensation has not arisen.
   2. Also, according to another part of the application, “Insurance coverage was not paid based on the farmer’s application, and the Insurance Company did not consider the application.
In fact, in accordance with clause 9.1 of the Agreement, in the event of an event that may be recognized as an insured event, the policyholder/beneficiary must notify the insurer in writing in the prescribed manner.” In this agreement, the beneficiary/insured is designated as “M” JSCB.
Therefore, the Surkhandarya regional branch explained the requirements of the agreement to the farmer and informed him that the application for insurance coverage should be made by the bank that is a party to the agreement.
This is a direct implementation of the norms of the agreement, not the insurance company.
Then, the application sent by “M” JSCB on February 25, 2026, based on the requirements of the legislation and the agreement studied, and on March 17, 2026, it was reported in an official response letter that the insurance organization's payment obligation did not arise due to the fact that the insured event did not occur.
   3. The insurance organization does not have the right to make decisions outside the contract
   The insurance industry operates on the basis of legislative and contractual principles.
It is not only economically but also legally impossible to pay insurance coverage for cases not provided for in the contract.
Therefore, any decision is made based on the terms of the contract and the requirements of current legislation.
   4. Allegations of corruption are unfounded
   The article contains speculative statements about possible cases of corruption.
However, no official conclusion, decision of an authorized state body or evidence confirming these allegations was provided.
Therefore, these opinions can be considered as subjective assumptions of the author, not facts.
"MY INSURANCE" JSC will take all actions in this case in accordance with the insurance contract and the requirements of current legislation carried out on the basis of.
Currently, there are no legal grounds for paying insurance compensation due to the fact that an insured event has not occurred.
In this regard, we call on the media and Internet publications to comprehensively study all the circumstances, take the official position of the interested parties, and adhere to the principles of impartiality and professional journalism before drawing unilateral conclusions.
        Press service of "MY INSURANCE" JSC