The Verkhovna Rada of Ukraine adopted the Bill "On Amendments to Clause 988 of the Civil Code of Ukraine" (re Insurer's Obligations) as a Basis

15 June 2010, 14:11

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The bill amends the Civil Code of Ukraine, suggesting a new version of the provision on the legal status of the insurer regarding execution of the insurance contract.

 

Pursuant to the bill, the insurer shall amend the insurance contract on the grounds of an appeal of the insured party, in case of reduction of the insurance risk or in case of increase of property cost.  

 

A relevant bill was registered under Reg. No. 3296.