Is it possible to insure business against revolution in Kyrgyzstan?

13.08.2019

The coordinated actions of law enforcement agencies did not allow destructions and looting, which accompanied strong political unrest in the past. The city was patrolled by not indifferent Bishkek residents, united in the national team of Zhany dem. However, the business, taught by the experience of past years, quickly closed shopping centres, pavilions, took away goods, which indicates the readiness of the business for an unstable situation.

Akchabar found out what kind of sidings entrepreneurs have and whether it is possible to insure business from the revolution in Kyrgyzstan. We talked with the head of the property insurance and liability insurance department of A Plus insurance company Nurbek Toktogulov.

- Is it possible to insure business in the country in case of revolution?

- In insurance, this kind of risk, that is revolution, is not covered at all. But the market requires it. Therefore, we propose the SRCC reservation, which stands for strike, riots and civil commotion.

The SRCC clause is a separate annex to the insurance contract.

- How many companies and entrepreneurs are insured?

- Several dozen organisations and private entrepreneurs. Unfortunately, we cannot provide accurate information.

According to the expert, after the events of 2010, interest in insurance from the business has increased significantly.

- What reimbursement can businessmen expect when the scenario develops worse?

- The insurance company reimburses the real amount of damage to property. In this case, documents from the competent authorities with confirmation of the insured event are required.

The unrest began on the evening of August 7 after an unsuccessful attempt to detain former President Almazbek Atambayev by security forces at his residence in the village of Koy-Tash. His supporters, led by their leader on August 8, intended to gather outside the Forum building for an unlimited rally. Atambaev later abandoned this idea and surrendered to the authorities.

However, an aggressive crowd gathered in the main square of the city, according to journalists. Law enforcement officials managed to disperse Atambaev’s supporters and prevent looting.

Reported by Akchabar (Kyrgyzstan).