Article 14. The rights and obligations of the insurer of the Law on Compulsory Insurance of Civil Liability of Auditing Organizations

Home / RLA / Article 14. The rights and obligations of the insurer of the Law on Compulsory Insurance of Civil Liability of Auditing Organizations

1. The Insurer has the right:

1) when concluding a compulsory liability insurance contract for auditing organizations, require the policyholder to provide information on previous compulsory liability insurance contracts for auditing organizations, insurance cases, insurance payments and other information necessary for concluding a compulsory liability insurance contract for auditing organizations;

2) request, in accordance with the procedure established by the legislation of the Republic of Kazakhstan, from the relevant state bodies and organizations, based on their competence, documents and information related to the occurrence of the insured event and the determination of the amount of damage caused as a result of the occurrence of the insured event.;

3) participate in the settlement of issues related to the claims of the audited entities for compensation for damage caused by the policyholder as a result of his duties related to the audit;

4) to present the right of a counterclaim to the person responsible for causing harm in the cases provided for in Article 20 of this Law.;

5) to refuse to make insurance payments in whole or in part on the grounds provided for in Article 21 of this Law.

The contract of compulsory liability insurance of auditing organizations may provide for other rights of the insurer that do not contradict the legislative acts of the Republic of Kazakhstan.

2. The Insurer is obliged to:

1) to acquaint the policyholder with the terms of compulsory liability insurance of auditing organizations, to clarify his rights and obligations arising from the contract of compulsory liability insurance of auditing organizations;

1-1) upon notification of an insured event (an event considered as an insured event) that occurred during the period of insurance coverage under the contract of compulsory liability insurance of audit organizations, immediately register it and submit information on this insured event (an event considered as an insured event) to the organization for the formation and maintenance of a database in accordance with with the regulatory legal act of the authorized body;

2) in case of early termination of the contract of compulsory liability insurance of audit organizations, in cases and in accordance with the procedure established by the civil legislation of the Republic of Kazakhstan, to return the insurance premium in whole or in part to the policyholder.;

2-1) if there are insufficient documents confirming the occurrence of the insured event and the amount of damage to be reimbursed by the insurer, inform the applicant about it within three working days from the date of their receipt, indicating the full list of missing and (or) incorrectly executed documents.;

3) upon the occurrence of an insured event, make an insurance payment in accordance with the procedure and on the terms provided for by this Law.;

4) reimburse the policyholder for the expenses incurred by him in order to prevent or reduce losses in the event of an insured event;

5) ensure the secrecy of insurance;

6) upon receipt of an application from the policyholder (beneficiary), consider the claims of the policyholder (beneficiary) and provide a written response indicating the further procedure for resolving the dispute within five working days.;

7) upon receipt of an application from the policyholder (beneficiary) to the Insurance Ombudsman, forward this application, as well as the documents attached to it, to the Insurance Ombudsman within three working days from the date of receipt.

The contract of compulsory liability insurance of auditing organizations may provide for other obligations of the insurer that do not contradict the legislative acts of the Republic of Kazakhstan.

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.

President

Republic of Kazakhstan

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