On amendments to the decrees of the Ministry of Finance of the Republic of Belarus

the Decree of the Ministry of Finance of the Republic of Belarus of April 5, 2021 No. 28 “On Amendments to the Decrees of the Ministry of Finance of the Republic of Belarus” comes into force On May 7, 2021, where:

  • separate decrees of the Ministry of Finance of the Republic of Belarus are brought in line with the Decree of the President of the Republic of Belarus dated February 4, 2021 No. 39 “On amendments to the decrees of the President of the Republic of Belarus” in terms of insurance of export risks;
  • the size of the liability standard under voluntary insurance contracts has been revised;
  • the obligation for the transfer of obligations to reinsurance, which will exceed the established liability standard during the period of validity of the insurance contract has been established;
  • the term for the insurance organizations to transfer of obligations exceeding the established liability standard has been increased;
  • the term for the approval of the state reinsurer of the tariff for transferring obligations to reinsurance has been increased.

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