Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of May 11, 2019 No. 175

About insurance

For the purpose of enhancement of state regulation of insurance activity, acceptance of additional measures for protection of valuable interests of citizens and the organizations:

1. Determine that:

1.1. the insurance company which got in accordance with the established procedure special permission (license) for implementation of insurance activity, intending to perform types of voluntary insurance notifies on it the Ministry of Finance in writing.

With the notification the approved as the insurer * or merging of the insurers of the rule of voluntary insurance, basic insurance rates and economic-mathematical reasons for their calculations are at the same time represented.

The insurance company has the right to perform type of the voluntary insurance from the date of following behind day of the direction of the notification in the Ministry of Finance.

By legal acts or according to them need of coordination by insurance companies of rules of insurance and basic insurance rates by separate types of voluntary insurance can be provided;

______________________________

* For the purposes of this Decree terms are used in the values determined in the Regulations on insurance activity in the Republic of Belarus approved by the Presidential decree of the Republic of Belarus of August 25, 2006 No. 530 "About insurance activity".

1.2. the insurance company when implementing insurance activity has the right to sign contracts of voluntary insurance in electronic form taking into account requirements of the legislation regulating insurance activity;

1.3. the insurance company performing the types of insurance relating to the life insurance having the right to make:

the personal insurance which is not relating to life insurance, except for voluntary insurance from accidents and diseases for the period of trip abroad;

risk insurance of accomplishment of the obligations assumed under agreements of the voluntary personal insurance which is not relating to life insurance, and (or) agreements of the voluntary insurance relating to life insurance, except for risk of accomplishment of the obligations regarding risk insurance of achievement of certain age by insured person;

1.4. the insurance broker when implementing intermediary activities for insurance has the right:

participate in insurance of valuable interests of the Republic of Belarus and its administrative and territorial units, state bodies, the state legal entities, and also economic societies concerning which the Republic of Belarus or administrative and territorial unit, having shares (shares) in authorized funds, can determine the decisions made by this society only based on the order of the insurer and receipt of remuneration from it;

conclude, including sign, at the request of the insurer insurance contracts, including insurance policies (certificates, certificates), within the powers conferred by the insurer;

conclude, including sign, agreements of reinsurance within the powers conferred by the insurance (reinsurance) organization and in the presence of consent to transfer (acceptance) of insurance risks;

receive and transfer the amounts of losses which are subject to compensation on the risks transferred (accepted) to reinsurance, and the amounts compensated to the insurer within realization of its right to claim against person responsible for losses in the presence of the corresponding condition in the agreements signed by them with the insurance (reinsurance) organizations;

1.5. the organizations insurers have the right to include in costs on production and sales of products, goods (works, services) the insurance premiums considered in case of the taxation:

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