National Bank fines insurance company UAH 3 million: what is the reason?
15 May 07:16
The National Bank of Ukraine has fined Inter-Policy Insurance Company UAH 2.9 million in connection with violations of the legislation in the field of insurance, protection of financial services consumers and the requirements of regulations governing the activities of non-bank financial institutions. This is reported by the press service of the NBU, "Komersant Ukrainian" informs
It is noted that the relevant decision was made based on the results of a scheduled inspection by the regulator.
The insurer was fined UAH 2.74 million for violating the rights of consumers of financial services. In addition, the company was fined UAH 160 thousand for non-compliance with reporting rules.
The violated regulations include the Civil Code of Ukraine, as well as the Laws of Ukraine “On Electronic Commerce”, “On Insurance”, “On Financial Services and Financial Companies”.
The insurance company is obliged to pay the imposed fines within one month from the date the relevant decisions come into force. By June 12, 2025, the company must eliminate the identified violations and take measures to eliminate the causes and conditions that led to their occurrence.
According to youcontrol , Inter-Policy Insurance Company has been operating in the Ukrainian insurance market since 1993. The company is registered in Kyiv. The owner is Yevhen Cherniak. He is also the president and co-founder of the KAIS group.
In 2027, Yevhen Cherniak was awarded the honorary title of Honored Economist of Ukraine.
As a reminder, in April 2025, the NBU imposed enforcement actions on nine non-bank financial institutions for violating the requirements of the financial monitoring legislation.
