In 2011, 7,704 insurance agents have been working on the insurance
market of Uzbekistan. Of these, 6,078 or 78.9% were individuals, and
1626 (21.1%) were legal entities. Of all insurance agents 41.1% worked
in rural areas of the country.
According to experts of IRA SAIPRO, insurance agents on the market provide almost all the proceeds of insurance premiums for the massive insurance. As is known, the payment of labor or services of an insurance agent is carried out in the form of commission by agreement with the insurance company from the proceeds of insurance premiums provided by an insurance agent. However, according to law the amount of agent's fee shall not exceed 25.0% of the amount of insurance premiums received.
In 2011 expenses of insurance companies for payment of agency fees amounted to 11.9% of total revenues. In the previous year this figure was 10.6%.
According to experts of IRA SAIPRO, insurance agents on the market provide almost all the proceeds of insurance premiums for the massive insurance. As is known, the payment of labor or services of an insurance agent is carried out in the form of commission by agreement with the insurance company from the proceeds of insurance premiums provided by an insurance agent. However, according to law the amount of agent's fee shall not exceed 25.0% of the amount of insurance premiums received.
In 2011 expenses of insurance companies for payment of agency fees amounted to 11.9% of total revenues. In the previous year this figure was 10.6%.
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