Article 8. The combination of branches and classes of insurance of the Law on Insurance Activity

Home / RLA / Article 8. The combination of branches and classes of insurance of the Law on Insurance Activity

1. The activity of an insurance company in the territory of the Republic of Kazakhstan is carried out on the basis of a license for the life insurance industry or a license for the general insurance industry within the appropriate insurance classes specified in the license.

2. Activities in the general insurance industry cannot:

1) be combined with activities in the life insurance industry;

2) be carried out in the form of cumulative insurance.

3. Activities in the life insurance industry cannot be combined with:

1) activities in the general insurance industry, with the exception of the insurance classes specified in subitems 1) and 2) of paragraph 3 of Article 6 of this Law;

2) compulsory types of insurance that are not related to the "life insurance" industry, with the exception of compulsory tourist insurance.

4. An insurance organization has the right to develop a type of insurance that combines the features and content of two or more insurance classes, provided that it has a license indicating the corresponding insurance classes and subject to the restrictions on combining insurance classes established by this Law.

5. (The paragraph was deleted by the Law of the Republic of Kazakhstan dated 10.07.2003 N 483 (effective from 01.01.2004).

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

President

Republic of Kazakhstan

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