Article 10-3. Association of Actuaries of the Insurance Law

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1. The Association of actuaries is established in the form of a non-profit organization, the activities of which are regulated by this Law, the Law of the Republic of Kazakhstan "On Self-Regulation" and other regulatory legal acts of the Republic of Kazakhstan, the founding documents of the association of actuaries.

2. The conditions and procedure for admission to membership and termination of membership in the association of actuaries are established by the charter of the association of actuaries.

The Association of Actuaries maintains a list of its members and posts it on its Internet resource.

3. The Association of Actuaries performs the following functions:

1) conducting actuarial research in the field of insurance and insurance activities, including actuarial valuation and examination of insurance rates by insurance classes, the content and conditions of which are determined by legislative acts of the Republic of Kazakhstan;

2) analysis and updating of life expectancy indicators under annuity insurance contracts concluded within the framework of the Social Code of the Republic of Kazakhstan and the Law of the Republic of Kazakhstan "On compulsory insurance of employees against accidents in the performance of their labor (official) duties";

3) conducting training and exams according to the minimum mandatory actuarial training program;

4) development of internal documents;

5) ensuring the interaction of its members in carrying out its activities;

6) consideration of disputes arising between members;

7) ensuring the protection of the interests of its members;

8) performing other functions that do not contradict the requirements of the legislation of the Republic of Kazakhstan on self-regulation and the regulatory legal act of the authorized body.

4. Employees and members of the association of actuaries are responsible for disclosing information obtained during the exercise of their functions, which constitute official, commercial, insurance secrets or other legally protected secrets, in accordance with the laws of the Republic of Kazakhstan.

5. The development and approval of measures of influence, the procedure and grounds for their application, the procedure for reviewing cases of violations by members of the association of actuaries of the code of professional ethics and standards of professional practice, qualification and other membership requirements fall within the competence of the supreme governing body of the association of actuaries.

The Law of the Republic of Kazakhstan dated December 18, 2000 No. 126.

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Republic of Kazakhstan

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