Azernews.Az

By Aynur Jafarova

Compulsory environmental insurance is introduced in Turkmenistan from March 1, 2013 for all types of institutions, enterprises and organizations whose activity is deemed environmentally hazardous, except government-financed entities, according to an official Turkmen source.

Such insurance is also introduced for foreign legal entities, their branch offices, representative offices and entrepreneurs, the source said.

The introduction of this type of insurance will promote forming financial assets to take measures to prevent environmental pollution and create suitable conditions to forecast, prevent and eliminate consequences of environmental disasters.

According to a decree signed by Turkmen President Gurbanguly Berdymukhamedov during a recent meeting of the Cabinet of Ministers, the legal entities and individuals must conclude agreements on compulsory ecological insurance for 2013 by June 1.

The decision was made in accordance with the Laws of Turkmenistan "On nature protection" and "On insurance" in order to ensure successful implementation of a number of national programs as well as efficient use of natural resources, environmental safety, etc.

Control over the signing of contracts on compulsory public environmental insurance by physical entities and legal entities will be exercised by the Turkmen Ministry of Nature Protection.

The Turkmen president approved the regulations on compulsory environmental insurance and the list of hazardous works and facilities to be subject to environmental insurance, and instructed the Ministry of Nature Protection to keep the process of concluding relevant agreements with individuals and legal entities under strict control.

The State Insurance Organization, the Ministries of Finance, Nature Protection and Justice were instructed to draft and approve the order of accounting on environmental insurance as well as the regulations on forming and using insurance funds.