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;

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* 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:

under agreements of voluntary insurance of life and (or) agreements of voluntary insurance of additional pension signed for benefit of the physical persons working in the organizations insurers for employment contracts with insurance companies irrespective of their pattern of ownership;

on voluntary insurance of the civil responsibility for damnification when implementing aeronautical servicing;

1.6. since July 1, 2021 information exchange of the Ministry of Internal Affairs and Belarusian bureau on transportation insurance in connection with participation in carrying out obligatory civil liability insurance of owners of vehicles is performed by means of the nation-wide automated information system on a grant basis.

2. Determine that the minimum size of authorized capital of insurance company, insurance broker is established in Belarusian rubles.

The insurance companies, insurance brokers registered before entry into force of this Item having the right not to make to the constituent documents changes and (or) amendments concerning recalculation of the foreign currency contributed in authorized capital, in Belarusian rubles.

At the same time compliance of the size of authorized capital of the insurer, insurance broker to the minimum size of authorized fund is determined by recalculation of the foreign currency cash brought in authorized capital in Belarusian rubles by the official rate of Belarusian ruble established by National Bank in relation to the corresponding foreign currency for any date of recalculation.

3. Insurance brokers have the right to remuneration (its part) * from insurance companies for the services rendered till September 1, 2019 connected with intermediary activities for the types of insurance which are not relating to life insurance in case of insurance of valuable interests of the Republic of Belarus and its administrative and territorial units, state bodies, the state legal entities, and also legal entities which solutions the state can influence, holding controlling stock (share).

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* Irrespective of payment due dates of such remuneration (its part).

4. The organizations - the insurance agents included in the register of insurance agents of the Ministry of Finance (further - the register) till September 1, 2019, shall till October 1, 2019:

provide operation of the civil contract only with one insurance company performing the types of insurance which are not relating to life insurance;

dissolve civil contracts with other insurance companies performing these types of insurance;

file in the Ministry of Finance petition for change of the data included in the register.

The organizations - the insurance agents which did not fulfill the requirements stated in part one of this Item are excluded by the Ministry of Finance from the register.

Action of part one of this Item does not extend to the organizations - insurance agents which after September 1, 2019 have the right to perform intermediary activities for insurance upon name of several insurance companies. Such organizations - insurance agents are excluded by the Ministry of Finance from the register without their address with the statement.

Insurance companies shall make till October 1, 2019 changes and (or) additions to the civil contracts signed with insurance agents - physical persons, regarding establishment of their right to sign on behalf of insurance company insurance contracts only with physical persons.

At the same time insurance agents have the right to remuneration (its part) * from insurance companies for the services rendered before termination of civil agreements or introduction of changes in them and (or) amendments.

5. The Belarusian republican unitary insurance enterprise passes Belgosstrakh to forming of special insurance reserve on obligatory civil liability insurance of legal entities and individual entrepreneurs for the harm done by the activities connected with operation of separate objects, since September 1, 2019 according to the procedure of, determined by the Ministry of Finance.

6. The legal entities and individual entrepreneurs performing the activities connected with operation of objects:

the separate objects included in the list concerning which responsibility for the harm done by the activities connected with their operation is subject to compulsory insurance (further - the list) shall sign till November 1, 2019 contracts of obligatory civil liability insurance of legal entities and individual entrepreneurs for the harm done by the activities connected with operation of such objects;

excluded from the list having the right to dissolve contracts of compulsory insurance. At the same time the insurer has the right to part of insurance premium in proportion to time during which the insurance contract was effective. Return to the receivable insurer of part of insurance premium is performed according to the procedure, established by the legislation for the called type of compulsory insurance.

7. The agreements of obligatory civil liability insurance of owners of vehicles, carrier before passengers, carrier in transit dangerous goods, legal entities and individual entrepreneurs for the harm done by the activities connected with operation of objects signed till September 1, 2019 are valid before the termination of term of their action on those conditions on which they were imprisoned **.

At the same time on the insured events which came after August 31, 2019, determination of the extent of harm and payment of insurance indemnity for the agreements of obligatory civil liability insurance of owners of vehicles signed till this day are made according to this Decree.

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* Irrespective of payment due dates of such remuneration (its part).

** Except the cases provided in Item 6 of this Decree.

8. Make changes to presidential decrees of the Republic of Belarus (appendix).

9. To Council of Ministers of the Republic of Belarus:

9.1. till September 1, 2019 to provide reduction of acts of the legislation in compliance with this Decree and to take other measures for its realization;

9.2. till July 1, 2021 together with the republican unitary enterprise "National Center of Electronic Services" to provide necessary information exchange of the Ministry of Internal Affairs and Belarusian bureau on transportation insurance by means of the nation-wide automated information system.,

10. This Decree becomes effective in the following procedure:

10.1. Items 2, 9 and this Item, and also subitem 3. 2, paragraphs of the fifty second - the fifty seventh subitem 3.3 of Item 3 appendices to this Decree - after official publication of this Decree;

10.2. other provisions of this Decree - since September 1, 2019.

Appendix

to the Presidential decree of the Republic of Belarus of May 11, 2019 No. 175

The list of the changes made to Presidential decrees of the Republic of Belarus

1. In the Charter of the Belarusian bureau on transportation insurance approved by the Presidential decree of the Republic of Belarus of December 1, 1999 No. 701:

1.1. in part two of item 4 of the word "Kalvariyskaya, House No. 1" shall be replaced with words "Pritytsky, 29-70";

1.2. the fourth Item 6 to state the paragraph in the following edition:

"determines the list of documents based on which payment of insurance indemnity for obligatory civil liability insurance of owners of vehicles is performed;";

1.3. in paragraph three of Item 5 of the word "control of accomplishment" shall be replaced with words "taking measures, directed to accomplishment";

1.4. state Item 6-1 in the following edition:

"6-1. For the purpose of accomplishment of the function determined in paragraph four of Item 11 of this Charter, the Bureau has the right to request and receive the data from information resources of the Ministry of Internal Affairs containing:

surname, own name, middle name (in case of its availability), birth date and birth place, identification number;

residence (place of stay);

name, series, number, date, body of issue and effective period of the identity document;

information on registration of vehicles, car driver licenses on the right of control of vehicles;

information on the road traffic offenses made in case of operation of vehicles, the road accidents.

The bureau has right of access, including remote, to these information resources according to the procedure, established by the Ministry of Internal Affairs.

The data specified in part one of this Item are provided on a grant basis without written consent physical persons.";

1.5. in Item 11:

after the paragraph of the ninth to add Item with the paragraph of the following content:

"maintaining the automated information system on obligatory civil liability insurance of owners of vehicles;";

the paragraph the tenth after the word of "certificate" to add with words "rules of carrying out obligatory civil liability insurance of owners of vehicles,";

1.6. from Item 14 of the word of "National Bank" to exclude;

1.7. to add Item 25 part one after the word of "units" with the words "and (or) in property of legal entities in whose authorized funds more than 50 percent of shares (shares) are in property of the Republic of Belarus and (or) its administrative and territorial units".

2. Of May 12, 2005 "About insurance premiums under agreements of voluntary insurance of life, the additional pension and medical expenses included in costs on production and sales of products of goods (works, services)" the words "with the state insurance companies" to exclude No. 219 from subitem 1.1 of Item 1 of the Presidential decree of the Republic of Belarus.

3. In the Presidential decree of the Republic of Belarus of August 25, 2006 No. 530 "About insurance activity":

3.1. in Item 1:

in subitem 1.1:

the second to state part in the following edition:

"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 these societies perform insurance of the valuable interests on the types of insurance which are not relating to life insurance in the Republic of Belarus only at the state insurance companies * if other is not established by the President of the Republic of Belarus.

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* In this Item the state insurance companies are understood as insurance companies - the state legal entities or legal entities in whose authorized funds more than 50 percent of shares (common (ordinary) or other voting shares) are in property of the Republic of Belarus and (or) its administrative and territorial units and (or) in property of legal entities in whose authorized funds more than 50 percent of shares (shares) are in property of the Republic of Belarus and (or) its administrative and territorial units.";

after part two to add the subitem with part of the following content:

"The insurance specified in part two of this Item is performed without participation of insurance agents, except for the insurance agents which are on the staff of the state insurance company, and participation of insurance broker is possible only based on the order of the insurer and receipt of remuneration from the insurer.";

in part three of the word "legal entities whose decisions the state can influence, holding controlling stock (share, deposits, shares)" shall be replaced with words "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 these societies";

from part seven of the word "and insurance companies in which authorized capitals more than 50 percent of shares (common (ordinary) or other voting shares) are in property of the Republic of Belarus and (or) its administrative and territorial units" to exclude;

from subitem 1.2 of the word "state" and "and (or) insurance companies in which authorized capitals more than 50 percent of shares (common (ordinary) or other voting shares) are in property of the Republic of Belarus and (or) its administrative and territorial units," to exclude;

3.2. to state part one of subitem 6.4 of Item 6 in the following edition:

"6.4. annually till January 1, 2023 Belgosstrakh goes for increase in authorized fund of the Belarusian republican unitary insurance enterprise, and since January 1, 2023 it is monthly transferred into the republican budget of 50 percent of the profit got by the specified company from implementation of investments by means of investment of capital of special insurance reserve on compulsory insurance from labor accidents and occupational diseases and investment of funds of the specified reserve reduced by the amount:

the taxes estimated from profit, charges (duties), other obligatory payments in republican and local budgets, budgets of state non-budgetary funds;

assignments of part of profit of the state unitary enterprises according to the legislation.";

3.3. in the Regulations on insurance activity in the Republic of Belarus approved by the Decree:

in Item 2:

" (possession of controlling stock)" to exclude from the paragraph of the fourth word;

the twentieth to exclude the paragraph;

state Item 3 in the following edition:

"3. Insurance can be performed in forms of voluntary and compulsory insurance.

Voluntary insurance is performed by the conclusion of the contract between the insurer and the insurer according to the legislation.

Conditions on which the agreement of voluntary insurance is signed are determined in the rules of the corresponding type of insurance approved by the insurer or merging of the insurers. The rules of the corresponding type of insurance approved by the insurer or merging of the insurers shall be attached to the agreement of voluntary insurance. Appendix to the agreement of voluntary insurance of rules of insurance shall make sure entry in this agreement.

According to the procedure and the terms established by the Ministry of Finance, the insurer shall notify the Ministry of Finance in writing:

about types of voluntary insurance which the insurer intends to perform, with representation approved by it or merging of the insurers of rules of the corresponding types of voluntary insurance, basic insurance rates and economic-mathematical reasons for their calculations;

about changes and (or) additions made to rules of the corresponding type of voluntary insurance and basic insurance rates with submission of the documents confirming these changes including economic-mathematical reasons for calculation of basic insurance rates.

In the rules of the corresponding type of voluntary insurance approved by the insurer or merging of the insurers date of their entry into force shall be specified. The date of entry into force of rules of voluntary insurance is determined by the insurer independently, but shall be not earlier than the day following behind day of the direction in the Ministry of Finance of the notification specified in part four of this Item.

The Ministry of Finance has the right to determine the minimum (standard) requirements to conditions and procedure of separate types of voluntary insurance.

Effective period of agreements of voluntary insurance of life and (or) additional pension cannot be less than one year.

The insurance rate by types of voluntary insurance is established by the insurer.

Compulsory insurance is performed by the state insurance companies and (or) insurance companies in which authorized capitals more than 50 percent of shares (common (ordinary) or other voting shares) are in property of the Republic of Belarus and (or) its administrative and territorial units and (or) in property of legal entities in whose authorized funds more than 50 percent of shares (shares) are in property of the Republic of Belarus and (or) its administrative and territorial units if other is not established by acts of the President of the Republic of Belarus.

The state guarantees insurance payments for the types of insurance relating to life insurance, types of compulsory insurance if insurance contracts are signed with the state insurance companies.

The size of insurance rate or insurance premium by types of compulsory insurance is established by the President of the Republic of Belarus.

The procedure and conditions of compulsory insurance, except for compulsory national insurance, are determined by the laws of the Republic of Belarus and this Provision.";

add the Provision with Item 3-1 of the following content:

"3-1. The agreement of voluntary insurance shall be signed in writing.

The agreement of voluntary insurance can be signed by creation of one textual record * or by exchange of textual records * which are signed by the parties with own hand or with use of means of communication and other technical means, computer programs, information systems or information networks if such method of signing allows to determine authentically that the relevant textual record is signed by agreement parties (facsimile reproduction of the sign manual by mechanical or other copying, the digital signature or other analog of the sign manual providing identification of the agreement party) and does not contradict the legislation and the agreement of the parties.

The written form of the agreement of voluntary insurance is considered observed if the written proposal of the insurer to sign the insurance contract by the direction of the textual record * is accepted the insurer by payment of insurance premium (its part) in time, established in the offer if other is not stipulated by the legislation or is not specified in the offer.

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