Multi-agents should familiarize themselves with all the products of the companies they represent. About this reported Kateryna Rozhkova, first deputy head of the National Bank of Ukraine.
If the agent is exclusively engaged in the sale of policies of compulsory civil liability insurance of owners of land vehicles (OCTPV), this information must be displayed in the Register of Insurance Intermediaries. The initial registration of a multi-agent in the Register can be carried out by any insurance company with which the agent cooperates, and other insurers can add information about their products.
“Training is not difficult. Banks and insurers have always trained their salespeople. Insurance agents are the front office of the insurer. It has always been like that, but now it is fixed at the level of regulations to implement the directive.”Rozhkova noted.
She added that more than 80% of insurance products in terms of premiums are sold by intermediaries. At the same time, before the implementation of the latest legislative changes, this market remained insufficiently transparent, which created risks for consumers and did not contribute to the development of insurance. In particular, the National Bank did not regulate and register insurance agents.
“From the beginning of 2025, after the entry into force of the relevant requirements of the new version of the law “On Insurance”, the approaches to the regulation and authorization of all categories of insurance intermediaries have changed, but we have given a transition period to fulfill the new requirements.” – stressed the deputy head of the NBU.
According to Rozhkova, thanks to the Register of Insurance Intermediaries anyone can get up-to-date information about the intermediary, his powers and the insurance products of the companies he sells. As of March 21, 4,406 agents and seven brokers were entered into the Register.
