Ukraine seeks mandatory insurance of industrial accidents

The Ukrainian government plans to introduce mandatory state insurance of industrial accidents early in 2001 – a quid pro quo of a reduction in taxes. The insurance tariff is expected to be set at 0.32% of an industrial enterprises’ actual turnover with adjustments according to the level of hazard within an industry. This is expected to generate an annual Hryvna1.3bn, providing a fund to facilitate prompt assistance to victims, of whom there are an estimated 400,000 each year.