Article 16. The amount of the insurance premium of the Law On Compulsory Insurance of Civil Liability of owners of Facilities whose activities are associated with the risk of harm to Third parties

Home / RLA / Article 16. The amount of the insurance premium of the Law On Compulsory Insurance of Civil Liability of owners of Facilities whose activities are associated with the risk of harm to Third parties

1. The amount of the insurance premium under the compulsory liability insurance contract for the owners of facilities is set by agreement of the parties in the range from 0.72 to 2.02 percent of the insured amount, depending on the level of danger of the facility, whose activities are associated with the risk of harm to third parties.

2. The amount of the insurance tariff for a particular facility is set depending on the overall level of danger of the facility, determined annually by the authorized body.

3. The amount of the insurance premium is established taking into account the insurance tariff specified in the contract of compulsory liability insurance of the owners of the facilities, the general level of danger of the facility, determined by the authorized body in the field of industrial safety.

Information on the annual general level of danger of organizations with hazardous production facilities subject to declaration and insurance is posted by the authorized body on its Internet resource or published in national periodicals in Kazakh and Russian languages.

If the general danger level of the facility is maintained or reduced, the insurance premium is paid at the insurance rate established in accordance with this article.

When the overall danger level of an object increases in comparison with the industry average, an increasing coefficient of ten percent is applied to the insurance tariff for one percent increase in the overall danger level of the object.

The amount of the insurance tariff, taking into account the increasing coefficient, must not exceed the amount of the insurance tariff established in paragraph 1 of this article.

The Law of the Republic of Kazakhstan dated July 7, 2004 No. 580.

This Law regulates public relations arising in the field of compulsory insurance of civil liability of owners of facilities whose activities are associated with the risk of harm to third parties, and establishes the legal, economic and organizational basis for its implementation.

President

Republic of Kazakhstan

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