Article 11. Early termination of the compulsory liability insurance contract for auditing organizations The Law on Compulsory Insurance of Civil Liability of Audit Organizations

Home / RLA / Article 11. Early termination of the compulsory liability insurance contract for auditing organizations The Law on Compulsory Insurance of Civil Liability of Audit Organizations

1. The contract of compulsory liability insurance of audit organizations is terminated prematurely in accordance with the procedure and cases provided for by the civil legislation of the Republic of Kazakhstan.

2. If the early termination of the compulsory liability insurance contract of auditing organizations is caused by non-fulfillment of its terms due to the fault of the insurer, the latter is obliged to refund the insurance premium or insurance premiums paid to the policyholder in full. In other cases of early termination of the compulsory liability insurance contract of audit organizations, the insurer is entitled to a portion of the insurance premium in proportion to the time during which the insurance was valid.

The Law of the Republic of Kazakhstan dated June 13, 2003 No. 440.

This Law regulates public relations arising in connection with compulsory insurance of civil liability of audit organizations, and establishes the legal, economic and organizational basis for its implementation.

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Republic of Kazakhstan

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