Article 8. Contract of compulsory liability insurance for private notaries and the procedure for its conclusion Chapter 2. Contract of compulsory liability insurance for private notaries The Law on Compulsory Insurance of Civil Liability of Private Notaries

Home / RLA / Article 8. Contract of compulsory liability insurance for private notaries and the procedure for its conclusion Chapter 2. Contract of compulsory liability insurance for private notaries The Law on Compulsory Insurance of Civil Liability of Private Notaries

Article 8. Contract of compulsory liability insurance for private notaries and the procedure for its conclusion Chapter 2. Contract of compulsory liability insurance for private notaries The Law on Compulsory Insurance of Civil Liability of Private Notaries

1. Compulsory liability insurance of private notaries is carried out on the basis of a contract concluded in accordance with this Law and the Civil Code of the Republic of Kazakhstan between the insurer and the policyholder in favor of a third party, whose property interests may be harmed when performing notarial actions by a private notary.

A private notary is obliged to conclude a compulsory insurance contract for his civil liability before performing notarial acts.

2. The contract of compulsory liability insurance of private notaries provides for insurance payments for obligations incurred as a result of harm to third parties when the policyholder commits notarial acts, with the exception of compensation for moral damage, lost profits and payment of a penalty.

3. The contract of compulsory liability insurance of private notaries is concluded only with an insurer licensed to carry out activities under this type of compulsory insurance. The conclusion of such an agreement is mandatory for the mentioned insurer, except in cases stipulated by the laws of the Republic of Kazakhstan.

4. The contract of compulsory liability insurance of private notaries is concluded by registration of the insurance policy by the insurer in electronic form.

The requirements for the content and registration of an insurance policy for compulsory liability insurance of private notaries are established by the legislation of the Republic of Kazakhstan on insurance and insurance activities.

The responsibility for the incompleteness of the conditions to be specified in the contract of compulsory liability insurance of private notaries is borne by the insurer. In the event of a dispute under the contract of compulsory liability insurance of private notaries due to the incompleteness of its individual terms, the dispute is resolved in favor of the policyholder.

4-1. A contract of compulsory liability insurance for private notaries may, at the request of the policyholder, be concluded by writing to the insurer or exchanging electronic information resources between the policyholder and the insurer.

5. If the contract of compulsory liability insurance of private notaries is concluded on terms that worsen the situation of the policyholder or third parties in comparison with that provided for by this Law, then upon the occurrence of an insured event, the insurer shall bear obligations to the policyholder and third parties on the terms established by this Law.

The Law of the Republic of Kazakhstan dated June 11, 2003 No. 435.

This Law regulates public relations arising in connection with compulsory insurance of civil liability of private notaries, and establishes the legal, economic and organizational basis for its implementation.

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Republic of Kazakhstan

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