Law of Ukraine
"On Amendments to Article 40 of the Law of Ukraine "On Insurance"
Date of entry into force:
November 9, 2011
The Law of Ukraine "On Insurance" of March 7, 1996 regulates relations in the sphere of insurance, and aims to create an insurance service market and improve the insurance protection of the property interests of enterprises, institutions, organizations and natural persons.
Article 40 of the Law of Ukraine "On Insurance" guarantees secrecy of correspondence.
The Law amends part 3 of Article 40 of the Law of Ukraine "On Insurance". According to the amendments, information about legal entities and natural persons that contains insurance secrets is also provided by the insurer to the central body of executive power in the issues of financial monitoring, in accordance with the Law of Ukraine "On Preventing and Counteracting Legalization (Laundering) of Criminal Incomes and Terrorism Financing".