On March 1, the mandatory environmental insurance is introduced in Turkmenistan for all forms of institutions, enterprises and organisations carrying out environmentally hazardous activity (except for government-financed organisations). The mandatory environmental insurance is also introduced for foreign legal entities, their branch office, representative offices and entrepreneurs.
The introduction of mandatory environmental insurance will promote forming financial assets to take the measures to prevent environmental pollution and create conditions to forecast, prevent and eliminate consequences of ecological accidents.
According to the Resolution signed by the President of Turkmenistan during a recent meeting of the Cabinet of Ministers of Turkmenistan, the above-mentioned legal entities and individuals have to conclude agreements on mandatory environmental insurance for 2013 till June 1. The decision was taken in compliance with the Laws of Turkmenistan “On nature protection” and “On insurance” with the aim to ensure the successful implementation of a number of national programmes as well as efficient use of natural resources, environmental safety, insurance protection of environment, life, health, property of a third party on the territory of Turkmenistan.
The President of Turkmenistan approved the Regulations on mandatory environmental insurance and the list of hazardous works and facilities to be the subject to environmental insurance. The Turkmen leader instructed the Ministry of Nature Protection of Turkmenistan to keep the process of concluding agreements on the mandatory state environmental insurance with individuals and legal entities under the rigorous control.
The State Insurance Organisation, the Ministry of Finance of Turkmenistan, the Ministry of Nature Protection of Turkmenistan and the Ministry of Justice of Turkmenistan are instructed to draft and approve the process of settling accounts on the environmental insurance as well as the Regulation on forming and using insurance funds.
The introduction of mandatory environmental insurance will promote forming financial assets to take the measures to prevent environmental pollution and create conditions to forecast, prevent and eliminate consequences of ecological accidents.
According to the Resolution signed by the President of Turkmenistan during a recent meeting of the Cabinet of Ministers of Turkmenistan, the above-mentioned legal entities and individuals have to conclude agreements on mandatory environmental insurance for 2013 till June 1. The decision was taken in compliance with the Laws of Turkmenistan “On nature protection” and “On insurance” with the aim to ensure the successful implementation of a number of national programmes as well as efficient use of natural resources, environmental safety, insurance protection of environment, life, health, property of a third party on the territory of Turkmenistan.
The President of Turkmenistan approved the Regulations on mandatory environmental insurance and the list of hazardous works and facilities to be the subject to environmental insurance. The Turkmen leader instructed the Ministry of Nature Protection of Turkmenistan to keep the process of concluding agreements on the mandatory state environmental insurance with individuals and legal entities under the rigorous control.
The State Insurance Organisation, the Ministry of Finance of Turkmenistan, the Ministry of Nature Protection of Turkmenistan and the Ministry of Justice of Turkmenistan are instructed to draft and approve the process of settling accounts on the environmental insurance as well as the Regulation on forming and using insurance funds.
