Insurance and reinsurance brokers (with the exception of non-residents) who are included in the register of brokers must register in the Register of Insurance Intermediaries by March 31, 2025, the creation of which was initiated by the National Bank of Ukraine (NBU). This requirement determined by the resolution of the NBU, which entered into force on January 7, 2025.
In accordance with this provision, the NBU begins to maintain the Register of Insurance Intermediaries (Register of Intermediaries). Until the implementation of the integrated information protection system (CIS) in the Register of Intermediaries, brokers can continue their activities based on the data entered in the current register of brokers.
Brokers who have applied for registration in the Register of Intermediaries must update their data in the new register within three months after the introduction of KSZI. For non-resident insurance and reinsurance brokers who reported their intention to work in Ukraine by January 7, 2025, it is considered that they have already informed the NBU about their activities.
All contracts entered into by brokers from January 1, 2025 or amended after that date shall enter into force from the moment the resolution is implemented and remain valid until the broker is registered in the new register. Brokers are obliged to bring such contracts into compliance with the new requirements within three months after registration. Contracts concluded before January 1, 2025, remain valid until their expiration date.
