Article 826. Contents of the insurance contract of the Civil Code of the Republic of Kazakhstan

Home / Codes / Article 826. Contents of the insurance contract of the Civil Code of the Republic of Kazakhstan

1. The insurance contract must contain:

1) the name, location and bank details of the insurer;

2) the last name, first name, patronymic (if it is indicated in the identity document) and the place of residence of the policyholder (if it is an individual) or his

name, location and bank details (if it is a legal entity);

2-1) last name, first name, patronymic (if it is indicated in the identity document), contact phone number and individual identification number of the insurance agent (if it is an individual resident of the Republic of Kazakhstan) or the name, location, contact phone number and business identification number of the insurance agent (if it is a legal entity-resident of the Republic of Kazakhstan);

3) indication of the insurance object;

4) indication of the insured event;

5) the amount of the insured sum (with the exception of annuity insurance contracts and insurance contracts providing for the condition of the policyholder's participation in investments), the procedure and timing of the insurance payment;

6) the amount of the insurance premium, the procedure and terms of their payment;

6-1) the amount of the insurer's remuneration for the management of the Islamic insurance fund, the conditions and procedure for its payment (when concluding an Islamic insurance contract);

6-2) an indication of the presence or absence of a commission due to the insurance agent;

7) the date of conclusion and term of the agreement;

8) information about the insured and the beneficiary, if they are participants in the insurance relationship;

9) the number and series of the contract (insurance policy);

10) cases and procedure for making changes to the terms of the agreement;

10-1) the obligation of the policyholder to immediately inform the insurer of significant changes that have become known to him in the circumstances communicated to the insurer at the conclusion of the contract, if these changes may significantly affect the increase in insurance risk during the period of validity of the property insurance contract (paragraph 1 of Article 834 of this Code);

11) the terms of payment and the amount of the redemption amount (for cumulative insurance, with the exception of insurance contracts providing for the condition of the policyholder's participation in investments);

11-1) the time limits for notifying the policyholder or the insured about the missing documents required for the insurance payment;

12) abrogated by the Law of the Republic of Kazakhstan dated 12.01.2012 No. 538-IV (effective from 01.01.2013); 13) abrogated by the Law of the Republic of Kazakhstan dated 12.01.2012 No. 538-IV (effective from 01.01.2013);

14) the type of currency of the insured sum, insurance payment and insurance premium;

15) indication of the identification number, indication of the policyholder's residence and economic sector;

16) indication of the identification number, indication of the residence and economic sector of the insured (beneficiary), if he is not the policyholder under the insurance contract, if the insured (beneficiary) is indicated in the insurance contract.

2. By agreement of the parties, other terms may be included in the contract.

2-1. Deductible - the insurer's exemption from compensation for damage not exceeding a certain amount provided for in the insurance terms.

The deductible can be conditional (non-deductible) and unconditional (deductible).

With a conditional deductible, the insurer is exempt from compensation for damage not exceeding the established deductible amount, but must compensate the damage in full if its amount exceeds this amount.

With an unconditional deductible, the damage in all cases is reimbursed after deducting the established amount.

The deductible is set either as a percentage of the insured amount or in absolute amount.

3. If the insurance contract contains conditions that worsen the situation of the policyholder in comparison with those provided for by legislative acts, the rules established by these legislative acts shall apply.

4. The period of responsibility of the reinsurer under the reinsurance contract must correspond to the period of responsibility of the insurer under the insurance contract, the obligations under which are transferred to reinsurance, unless otherwise provided by the reinsurance contract.

5. The insurer is responsible for the incompleteness of the conditions to be specified in the insurance contract.

The footnote. Article 826 as amended by the Laws of the Republic of Kazakhstan dated 12/18/2000 N 128; dated 02/20/2006 N 128 (for the procedure of entry into force, see art. 2); No. 225 dated 12.01.2007 (effective from the date of its official publication); No. 234-IV dated 30.12.2009; No. 338-IV dated 15.07.2010 (see art. 2); dated 12.01.2012 No. 538-IV (see art. 2); dated 04/27/2015 No. 311-V (effective ten calendar days after the date of its first official publication); dated 07/02/2018 No. 166-VI (effective ten calendar days after the date of its first official publication).

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