Stiffer fines to be imposed on violations in insurance sector
The Ministry of Finance (MOF) has recently proposed raising fine levels for a lot of insurance-related violations, according to a draft decree revising the decrees concerning the sanctioning of administrative violations in the field of insurance business and lottery business, including Decree 98 of 2013, Decree 48 of 2018, Decree No. 80 of 2019, and Decree 102 of 2021.