KIEV, Feb. 16 – Media reports about the widespread non-fulfillment of insurance liabilities and debts worth some UAH 1 billion being owed to clients over the first nine months of 2009 are untrue, according to Viktor Suslov, the head of the State Commission for Financial Service Markets Regulation.

"I don’t know where this information came from. In addition, representatives of insurance associations have made statements about the large debt of insurers and the poor state of the market. We cannot confirm that information was deliberately distorted, but we can assume that they don't understand the data from reports by insurers over the first nine months of 2009," he said.