Article 1. The basic concepts used in this Law Chapter 1. General provisions The Law on Compulsory Insurance of Civil Liability of Vehicle Owners

Home / RLA / Article 1. The basic concepts used in this Law Chapter 1. General provisions The Law on Compulsory Insurance of Civil Liability of Vehicle Owners

The following basic concepts are used in this Law:

1) excluded by the Law of the Republic of Kazakhstan dated 10.01.2018 No. 134-VI (effective six months after the date of its first official publication);

2) reliability factor – a coefficient that characterizes the degree of confidence in the data used in the unified insurance database, necessary for calculating correction factors.;

2-1) the bonus-malus system is a system of discounts and allowances used in calculating the amount of the insurance premium payable under the contract of compulsory insurance of civil liability of vehicle owners by applying increasing or decreasing coefficients to the policyholder (insured), depending on whether or not the policyholder (insured) has insurance claims for his fault with assigning the appropriate class;

3) victim – a person whose life, health and (or) property have been harmed as a result of vehicle operation;

4) passenger - an individual who has concluded an oral or written contract of carriage with the carrier;

5) a comprehensive agreement is a contract of compulsory insurance of civil liability of vehicle owners, concluded by an individual who owns two or more units of vehicles specified in the insurance policy, and valid for only one insured individual.;

6) civil liability of the vehicle owner is the obligation of individuals and legal entities established by the civil legislation of the Republic of Kazakhstan to compensate for damage caused to the life, health and (or) property of third parties as a result of the operation of the vehicle as a source of increased danger;

7) operation of a vehicle - the use of a vehicle for movement on roads, as well as on territories adjacent to them that are equipped or adapted and used for the movement of vehicles;

8) vehicle owner – a natural or legal person who owns a vehicle by right of ownership, right of economic management or right of operational management or any other legal basis (lease agreement, by virtue of an order of the competent authority on the transfer of the vehicle, etc.);

9) transport accident - an accident (including a traffic accident) that occurred during the operation of a vehicle and with its participation, as well as the movement of parts separated from the vehicle and the cargo on it, as a result of which harm was caused to third parties;

9-1) simplified registration of a traffic accident – registration of documents on a traffic accident without the participation of law enforcement officers in the manner and under the conditions established by this Law;

10) beneficiary - a person who, in accordance with this Law, is the recipient of an insurance benefit;

11) insured event - an event, upon the occurrence of which the insurance contract provides for the insurance payment;

11-1) simplified procedure for the settlement of an insured event – the settlement of an insured event in the simplified registration of a traffic accident in accordance with the procedure and on the terms established by this Law and the regulatory legal act of the authorized body;

11-2) insurance Ombudsman – an individual who is independent in his activities and settles disputes between insurance market participants in accordance with the Law of the Republic of Kazakhstan "On Insurance Activities";

12) insurance amount - the amount of money for which the insured object is insured and which represents the maximum amount of liability of the insurer upon the occurrence of an insured event;

13) insurance premium - the amount of money that the policyholder is obliged to pay to the insurer for the latter's acceptance of obligations to make insurance payments to the policyholder (beneficiary) in the amount determined by the insurance contract;

14) insurance payment – the amount of money paid by the insurer to the beneficiary within the limits of the insured sum upon the occurrence of an insured event;

15) insurer - a legal entity that has obtained a license for the right to carry out insurance activities in the territory of the Republic of Kazakhstan in accordance with the procedure established by the legislation of the Republic of Kazakhstan, which is obliged, upon the occurrence of an insured event, to make an insurance payment to the policyholder or another person in whose favor the contract was concluded (beneficiary), within the amount (insured amount) specified in the contract;

16) insured - the person in respect of whom insurance is carried out;

17) policyholder - a person who has concluded an insurance contract with the insurer. Unless otherwise provided by the insurance contract, the policyholder is at the same time insured.;

18) a standard contract is a contract of compulsory insurance of civil liability of vehicle owners, concluded by an individual or legal entity that owns the vehicle specified in the insurance policy and valid for one or more insured persons.;

18-1) targeted loss ratio is a coefficient characterizing the target loss rate for compulsory insurance of civil liability of vehicle owners, used to calculate correction coefficients.;

19) direct settlement is a mechanism for settling an insured event, in which compensation for damage caused to the life, health and (or) property of the victim in a traffic accident is carried out by the insurer with whom the victim has concluded a contract of compulsory insurance of civil liability of vehicle owners within the scope of liability provided for by this Law.

The Law of the Republic of Kazakhstan dated July 1, 2003 No. 446.

This Law regulates relations arising in the field of compulsory insurance of civil liability of vehicle owners, and establishes the legal, financial and organizational basis for its implementation.

President

Republic of Kazakhstan

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