Article 1. The basic concepts used in this Law of the Law on Compulsory Environmental Insurance

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The following basic concepts are used in this Law:

1) Excluded by the Law of the Republic of Kazakhstan dated 01/02/2021 No. 401-VI (effective from 07/01/2021).

1-1) accident – destruction of buildings, structures and (or) technical devices, uncontrolled explosion and (or) release of dangerous (harmful) substances;

2) Excluded by the Law of the Republic of Kazakhstan dated 01/02/2021 No. 401-VI (effective from 07/01/2021).

3) compulsory environmental insurance is a complex of relations for the property protection of the legitimate interests of individuals and (or) legal entities (insured) upon the occurrence of civil liability for obligations arising as a result of causing environmental damage as a result of an accident.;

4) a compulsory environmental insurance contract is a contract concluded between the insurer and the policyholder on the terms defined by this Law.;

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

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

6-1) 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";

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

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

9) 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;

10) an insurer is a legal entity registered as an insurance organization and licensed to carry out insurance activities, which is obliged, upon the occurrence of an insured event, to make an insurance payment to the beneficiary within the limits of the amount of insurance determined by the contract.;

11) insured - a person in respect of whom compulsory environmental insurance is carried out;

12) policyholder - an individual and (or) a legal entity engaged in environmentally hazardous types of economic and other activities that has concluded a compulsory environmental insurance contract with the insurer;

13) third parties are subjects of legal relations involved in procedures arising from compulsory environmental insurance;

14) authorized body - the central executive body in the field of environmental protection and its territorial divisions;

15) civil liability of individuals and (or) legal entities engaged in environmentally hazardous types of economic and other activities is the obligation of individuals and (or) legal entities engaged in environmentally hazardous types of economic and other activities to eliminate environmental damage caused as a result of an accident;

16) an environmentally hazardous type of economic and other activity is the activity of individuals and (or) legal entities, as a result of which environmental damage may be caused in the event of an accident.

The Law of the Republic of Kazakhstan dated December 13, 2005 No. 93-III.

This Law regulates public relations arising in the field of compulsory environmental insurance and establishes the legal, economic and organizational basis for its implementation.

President

Republic of Kazakhstan

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