Article 52-2. Advertising distributed and placed by insurance (reinsurance) organizations of the Insurance Law
1. Insurance (reinsurance) organizations are prohibited from:
1) inappropriate advertising;
2) advertising that does not contain information about the risks inherent in the financial product, as defined by the requirements for the management of financial products established by the authorized body.
The requirements for the management of financial products, the list of financial products (indicating rates and tariffs), on the approval, modification and termination of which the subject of behavioral supervision notifies the authorized body, the procedure for such notification, as well as the list of documents and information attached to the notification, are approved by a regulatory legal act of the authorized body.
2. The authorized body has the right to require an insurance (reinsurance) organization to make changes to an advertisement that does not correspond to reality, to terminate it, or to publish its refutation.
In case of non-fulfillment of this requirement within the time period established by the authorized body, the authorized body has the right to publish information about the inconsistency of the information contained in the advertisement, or to clarify them at the expense of the insurance (reinsurance) organization that published such advertising.
3. It is prohibited to act as an advertiser of services provided by insurance (reinsurance) organizations to the following persons:
legal entities that do not have a license from the authorized body for the "life insurance" or "general insurance" industries, as well as for reinsurance activities.;
individuals who are not employees of insurance (reinsurance) organizations and are not authorized by insurance (reinsurance) organizations.
The Law of the Republic of Kazakhstan dated December 18, 2000 No. 126.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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