Article 15. Early termination of the contract of compulsory liability insurance of vehicle owners of the Law on Compulsory Insurance of Civil Liability of Vehicle Owners

Home / RLA / Article 15. Early termination of the contract of compulsory liability insurance of vehicle owners of the Law on Compulsory Insurance of Civil Liability of Vehicle Owners

1. The contract of compulsory liability insurance of vehicle owners is terminated prematurely in cases established by the Civil Code of the Republic of Kazakhstan.

2. For early termination of the contract of compulsory liability insurance of vehicle owners, the policyholder (in case of death of the policyholder, his heir(s)) submits a written application to the insurer.

3. In case of early termination of the contract of compulsory liability insurance of owners and the conclusion of a new contract of compulsory liability insurance of vehicle owners with the same insurer, the insurer has the right to deduct part of the insurance premium calculated according to the following formula:

HSP = SP * n/N, where:

HSP - the amount of the insurance premium retained by the insurer (in tenge);

JV - the amount of the insurance premium paid under the contract of compulsory liability insurance of vehicle owners (in tenge);

n is the period that has elapsed since the entry into force of the compulsory liability insurance contract for vehicle owners until its early termination (in days), including the day of application;

N is the deadline for concluding a compulsory liability insurance contract for vehicle owners (in days).

4. In case of non-compliance with the condition provided for in paragraph 3 of this Article, the insurer has the right to withhold part of the insurance premium upon early termination of the compulsory liability insurance contract for vehicle owners in the following amounts:

№ п/п	Срок, прошедший с момента вступления в силу договора обязательного страхования ответственности владельцев транспортных средств до момента его досрочного прекращения (в процентах от срока, на который заключен договор обязательного страхования ответственности владельцев транспортных средств)	Размер страховой премии, удерживаемой страховщиком (в процентах от страховой премии, оплаченной по договору обязательного страхования ответственности владельцев транспортных средств)
1	2	3
1	до 4 (не включая 4)	15
2	от 4 до 8 (не включая 8)	20
3	от 8 до 17 (не включая 17)	30
4	от 17 до 25 (не включая 25)	40
5	от 25 до 33 (не включая 33)	50
6	от 33 до 42 (не включая 42)	60
7	от 42 до 50 (не включая 50)	70
8	от 50 до 58 (не включая 58)	75
9	от 58 до 67 (не включая 67)	80
10	от 67 до 75 (не включая 75)	85
11	от 75 до 83 (не включая 83)	90
12	от 83 до 92 (не включая 92)	95
13	от 92 и выше	100

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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