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Insurance Companies to Finance Insurance Supervision

 Insurance companies will be responsible to finance insurance supervision service. The head of Insurance supervision service, Ioseb Gogolashvili declared about it.

According to his information, the sector is aware of this issue. Supposedly, there will be monthly tax which companies will have to pay.

The budget of Insurance supervision service was 300 million in 2016. 14 insurance companies which are currently working in Georgia will have to pay this amount of money to cover the expense.

Yesterday, it has been revealed at government meeting that insurance supervision service will not be financed by the state budget.