NBG: NBG DOES NOT HAVE FULL INSURANCE OF OWN TRANSACTIONS’ TERMINATION OR LIABILITIES TO THE THIRD PARTY

Insurance industry in Georgia is in its development phase and many categories of insurance, available across the world, have not been accessible in the country so far, National Bank of Georgia (NBG) stated in its annual report.

As a result, NBG does not have full insurance of own transactions’ termination or liabilities to the third party, as well as insurance of environmental damage, inflicted due to mistakes in course of the banks’ operations, the report pointed.