Article 4. Purpose and basic principles of compulsory liability insurance of vehicle owners of the Law on Compulsory Insurance of Civil Liability of Vehicle Owners

Home / RLA / Article 4. Purpose and basic principles of compulsory liability insurance of vehicle owners of the Law on Compulsory Insurance of Civil Liability of Vehicle Owners

1. The purpose of compulsory liability insurance for vehicle owners is to ensure the protection of the property interests of third parties, whose lives, health and (or) property have been damaged as a result of the operation of vehicles, through insurance payments.

2. The basic principles of compulsory liability insurance for vehicle owners are:

ensuring the protection of the property interests of victims to the extent and in accordance with the procedure established by this Law;

vehicle operation is subject to the conclusion by its owner of a compulsory liability insurance contract for vehicle owners.;

ensuring that the parties fulfill their obligations under the contract of compulsory liability insurance for vehicle owners;

the economic interest of vehicle owners in improving road safety.

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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