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Insurance Companies to Avoid Financial Sanctions

Published: October 10, 2013 | 5:19 pm
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TV3 has found out that insurance companies will not be facing financial sanctions for failing to fulfil their contractual obligations in the hospital sector. According to the Health Minister Davit Sergeenko, companies had contractually agreed to open hospitals in various regions in the country by September 2013, but the majority have failed to do so.
The head of the Insurance Supervisory Servic Lasha Nikoladze has stated that details of a moratorium on sanctions are currently being worked out, and should the insurance companies repay all debts owed to the hospitals, then the government would be willing to lift the financial penalties against them. According to Mr. Nikoladze, financial sanctions are currently being faced by 5 insurance companies which owe a total of over GEL 10 million to various hospitals.

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