Article 6. Branches, classes and types of insurance Chapter 2. Organization of insurance activities of the Law on Insurance Activities

Home / RLA / Article 6. Branches, classes and types of insurance Chapter 2. Organization of insurance activities of the Law on Insurance Activities

1. For the organization and implementation of state regulation and licensing of insurance activities, insurance is divided into branches, classes and types. The insurance activities of the insurance company are carried out in the "life insurance" and "general insurance" branches.

2. The life insurance industry includes compulsory insurance of an employee against accidents in the performance of his labor (official) duties and the following classes in the voluntary form of insurance:

1) life insurance, with the exception of the class specified in subparagraph 3) of this paragraph;

2) annuity insurance, with the exception of the class specified in subparagraph 4) of this paragraph;

3) life insurance within the framework of the state educational funded system;

4) pension annuity insurance.

3. The general insurance industry includes the following classes of voluntary insurance:

1) Accident insurance;

2) insurance in case of illness;

3) Motor transport insurance;

4) Railway transport insurance;

5) Air transport insurance;

6) Water transport insurance;

6-1) insurance of space objects;

7) Cargo insurance;

8) insurance of property against damage, except for the classes specified in subitems 3) - 7) of this paragraph;

9) insurance of civil liability of owners of motor transport;

10) insurance of civil liability of air transport owners;

11) insurance of civil liability of owners of water transport;

11-1) insurance of civil liability of owners of space objects;

11-2) Professional liability insurance;

12) civil liability insurance, except for the classes specified in the sub-paragraphs 9), 10), 11), 11-1) and 11-2) of this paragraph;

13) insurance of loans of legal entities;

14) mortgage insurance;

15) insurance of guarantees and sureties;

15-1) loss insurance of financial organizations, with the exception of the classes specified in subitems 13), 14), 15) and 16) of this paragraph;

16) insurance against other financial losses;

17) insurance of court expenses;

18) title insurance.

4. Additional requirements for the conditions of a particular class (type) of insurance, including prudential standards within certain classes (types) of insurance, are established by regulatory legal acts of the authorized body.

5. A type of insurance is an insurance product developed and provided by an insurance company to the policyholder within one or more insurance classes through the conclusion of an insurance contract.

6. Each type of compulsory insurance, the content and conditions of which are determined by the legislative act of the Republic of Kazakhstan regulating the compulsory type of insurance, is a separate class of insurance.

7. Imputed insurance is compulsory insurance, in which the requirement for compulsory insurance, types and minimum conditions of insurance (including the object of insurance, insurance risks and minimum amounts of insurance amounts) are established by the laws of the Republic of Kazakhstan, and other conditions and procedures for insurance are determined by agreement of the parties.

Imputed insurance is carried out within one or more insurance classes specified in paragraph 3 of this article and is not a separate insurance class.

The minimum requirements for standard imputed insurance contracts are established by a regulatory legal act of the authorized body.

Standard contracts for imputed insurance are developed and approved by the authorized state body regulating the type of activity that is subject to imputed insurance, in coordination with the authorized body.

By agreement of the parties, standard imputed insurance contracts may be supplemented with provisions that do not contradict the requirements of the legislation of the Republic of Kazakhstan.

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

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases