Civil liability insurance

On October 26, the President signed the Law "On Amendments to Certain Legislative Acts of Ukraine Regarding the First Steps of Business Deregulation through Civil Liability Insurance."

With such an innovation of the Law, a business can obtain a liability insurance policy that exempts it from inspections for the duration of its validity. For now, this exemption applies only to fire inspections.

Obtaining policies is possible for two categories of enterprises:

1. With an insignificant degree of risk.
2. With an average degree of risk.

For enterprises with an insignificant degree of risk, the legislator established the minimum amount of the insurance equivalent to at least 2 thousand minimum wages in the monthly amount established by law on January 1 of the year of conclusion of the liability insurance contract.

For enterprises with an average degree of risk the Law foresees a minimum insurance amount of at least 3,000 minimum wages in the monthly amount established by law on January 1 of the year of concluding the liability insurance contract.