Article 41. The main objectives and principles of state regulation in the field of insurance Law on insurance activities

Home / RLA / Article 41. The main objectives and principles of state regulation in the field of insurance Law on insurance activities

 1. The main objectives of state regulation in the insurance sector are:

1) creation and maintenance of a stable insurance system in the Republic of Kazakhstan and the formation of the infrastructure of the national insurance market;

2) insurance market regulation, control and supervision of insurance activities;

3) legislative consolidation of the basics of insurance, establishment of types of compulsory insurance, principles of participation of the Republic of Kazakhstan in the international insurance system;

4) protection of the rights and legitimate interests of policyholders, insured persons and beneficiaries.

1-1. The basic principles of state regulation of the activities of professional and other participants in the insurance market are:

1) efficient use of regulatory resources and tools;

2) transparency of the activities of professional and other participants in the insurance market and financial supervision;

3) responsibility of professional and other participants of the insurance market.

2. The implementation of state policy in the field of insurance, including ensuring state control over the state of affairs in the insurance market, is carried out by the authorized body and other state bodies within their competence.

The powers of other state bodies not regulated by this Law may be provided for by the relevant separate legislative acts of the Republic of Kazakhstan regulating compulsory types of insurance.

Interference of state bodies and their officials in the activities of an insurance (reinsurance) organization and an insurance broker is prohibited, except in cases expressly provided for by legislative acts of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated December 18, 2000 No. 126.

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Republic of Kazakhstan

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