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PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of August 25, 2006 No. 530

About insurance activity

(as amended on 11-05-2019)

For the purpose of enhancement of state regulation of insurance activity:

1. Determine that:

1.1. legal entities of the Republic of Belarus, and also the foreign legal entities, performing activities in the territory of the Republic of Belarus, citizens of the Republic of Belarus and who are constantly living in the Republic of Belarus persons without citizenship insure the valuable interests in the Republic of Belarus only at the commercial organizations created for implementation of insurance activity and having special permissions (licenses) for implementation of insurance activity in the Republic of Belarus if other is not established by the President of the Republic of Belarus.

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.

______________________________

* 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.

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.

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 valuable interests on the types of insurance relating to life insurance in the Republic of Belarus only at insurance companies - the state legal entities.

The foreign citizens who are in the Republic of Belarus, the stateless persons which are temporarily staying or temporary living in the territory of the Republic of Belarus, have the right to insure the valuable interests in the Republic of Belarus at the Belarusian commercial organizations created for implementation of insurance activity and having special permissions (licenses) for implementation of insurance activity if the insurance obligation at the called organizations is not provided according to this Decree.

Activities in the territory of the Republic of Belarus of the insurance companies created outside the Republic of Belarus without state registration in the Ministry of Finance and receipts of special permission (license) for implementation of insurance activity are illegal and are not allowed if other is not established by the President of the Republic of Belarus.

Activities in the territory of the Republic of Belarus of the insurance brokers created outside the Republic of Belarus without state registration in the Ministry of Finance are illegal and are not allowed if other is not established by the President of the Republic of Belarus.

Transfer of obligations assumed by the state insurance companies are in property of the Republic of Belarus and (or) its administrative and territorial units, according to the insurance contracts signed with the state legal entities, 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 also the prisoner at the expense of means republican and (or) local budgets, in reinsurance it is performed according to the legislation to insurance companies of the Republic of Belarus. Transfer of undertaken obligations to the subsequent reinsurance to the insurance companies created outside the Republic of Belarus is performed only by insurance company created by Council of Ministers of the Republic of Belarus in the form of the state legal entity for implementation of insurance activity only on reinsurance, according to the procedure, established by the legislation;

1.2. courts, other state bodies and other organizations, lawyers, notaries and individual entrepreneurs according to legal acts shall provide gratuitously on requests of insurance companies, the Belarusian bureau on transportation insurance the documents and the conclusions necessary for the solution of question of purpose of insurance payments;

1.3. the disputes following from the relations on insurance and on regulation of insurance activity are permitted judicially.

2. No. 165 is excluded according to the Presidential decree of the Republic of Belarus of 14.04.2014

3. Determine that:

3.1. No. 165 is excluded according to the Presidential decree of the Republic of Belarus of 14.04.2014

3.2. insurers and the Belarusian bureau on transportation insurance shall make insurance payment for the harm done to life, health of the victim irrespective of the amounts paid by bodies for work and social protection, paid on social insurance and under other signed agreements obligatory and voluntary if other is not established by legal acts ;

3.3. for each day of delay of insurance payment for fault of the insurer, the Belarusian bureau on transportation insurance they pay penalty fee in the amount of percent 0,1 legal and 0,5 of percent to physical person from the amount which is subject to payment.

4. Approve the enclosed Regulations on insurance activity in the Republic of Belarus.

5. Ceased to be valid

6. Determine that:

6.1. involvement of the insurer to responsibility for evasion from the conclusion of the agreement of compulsory insurance or from introduction in it of changes and (or) amendments in the cases provided in the Regulations on insurance activity in the Republic of Belarus approved by this Decree does not exempt the insurer from the conclusion or change (amendment) of the relevant agreement of compulsory insurance if other is not established by the President of the Republic of Belarus.

The penalties levied for operation or release in operation of the vehicle without agreement of obligatory civil liability insurance of owners of vehicles are enlisted:

50 percent - into the account of the Belarusian bureau on transportation insurance for replenishment of the funds of insurance guarantees formed by it and protection of the victims in the road accidents;

50 percent - in the republican budget;

6.2. the agreements of obligatory civil liability insurance of owners of vehicles, the structures belonging to citizens, compulsory medical insurance of the foreign citizens and stateless persons who are temporarily staying or temporarily living in the Republic of Belarus signed before entry into force of this Decree act before the termination of their term on those conditions on which they were imprisoned, and are not subject to reduction in compliance with this Decree;

6.3. the regulatory legal acts governing the relations on insurance before their reduction in compliance with this Decree are effective in the part which is not contradicting this Decree.

If the regulations of international treaties operating for the Republic of Belarus establish other regulations, than those which are provided in this Decree then are applied regulations of the international treaty;

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.

The part of profit, received by the state insurance companies from investment of the funds of their authorized funds allocated from the republican budget goes for increase in these funds in the amount of, established by the Ministry of Finance.

7. Recognize invalid decrees and presidential decrees of the Republic of Belarus, separate provisions of decrees and presidential decrees of the Republic of Belarus according to appendix.

8. To the insurance companies, insurance brokers and associations of insurers created before entry into force of this Decree till August 2, 2007 to bring the constituent documents into accord with this Decree.

Constituent documents of insurance companies, insurance brokers and associations of insurers before reduction in compliance with this Decree are effective in the part which is not contradicting this Decree.

The insurance companies created before entry into force of this Decree shall create the authorized funds:

till May 1, 2008 - in the amount of at least one second minimum sizes of the authorized fund established in Item 15 of the Regulations on insurance activity in the Republic of Belarus approved by this Decree;

till May 1, 2011 - in the amount of at least minimum size of the authorized fund determined in Item 15 of the Regulations on insurance activity in the Republic of Belarus approved by this Decree.

Failure to meet requirements, stated in parts of first or third of this Item, is the basis for liquidation of insurance companies, insurance brokers and associations of insurers.

The insurance companies created after entry into force of this Decree shall create the authorized funds according to the minimum sizes of authorized funds established in Item 15 of the Regulations on insurance activity in the Republic of Belarus approved by this Decree.

9. To Council of Ministers of the Republic of Belarus in two-month time to create the insurance company performing insurance activity only on reinsurance, having deposited in its authorized capital money in the amount equivalent to 20 million euros, from the means provided in the republican budget on increase in share of the state in authorized funds (including share acquisition) (appendix 1 to the Law of the Republic of Belarus of December 31, 2005 "About the budget of the Republic of Belarus for 2006" (National register of legal acts of the Republic of Belarus, 2006, No. 7, 2/1178), and to take other measures necessary for implementation of this Decree.

10. This Decree becomes effective from the date of its official publication.

Item 5 of this Decree is effective before entry into force of the laws on modification and (or) amendments in the Code of the Republic of Belarus about administrative offenses of April 21, 2003 and (or) the Procedural and executive code of the Republic of Belarus about administrative offenses of December 20, 2006.

 

President of the Republic of Belarus

A. Lukashenko

Appendix

to the Presidential decree of the Republic of Belarus of August 25, 2006 No. 530

The list of decrees and presidential decrees of the Republic of Belarus, separate provisions of the decrees and presidential decrees of the Republic of Belarus recognized invalid

1. The decree of the President of the Republic of Belarus of October 8, 1997 No. 18 "About compulsory insurance of the structures belonging to citizens" (Collection of decrees, presidential decrees and orders of the Government of the Republic of Belarus, 1997, No. 28, the Art. 897).

2. The decree of the President of the Republic of Belarus of February 19, 1999 No. 8 "About obligatory civil liability insurance of owners of vehicles" (The national register of legal acts of the Republic of Belarus, 1999, No. 17, 1/139).

3. The decree of the President of the Republic of Belarus of June 18, 1999 No. 24 "About modification and amendments in the Decree of the President of the Republic of Belarus of October 8, 1997 No. 18" (The national register of legal acts of the Republic of Belarus, 1999, No. 48, 1/437).

4. The decree of the President of the Republic of Belarus of September 28, 2000 No. 20 "About enhancement of regulation of insurance activity in the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2000, No. 95, 1/1659).

5. The decree of the President of the Republic of Belarus of September 4, 2001 No. 22 "About modification and amendments in the Decree of the President of the Republic of Belarus of October 8, 1997 No. 18" (The national register of legal acts of the Republic of Belarus, 2001, No. 85, 1/2966).

6. Item 10 of the Decree of the President of the Republic of Belarus of April 4, 2002 No. 10 "About introduction of amendments to some decrees of the President of the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2002, No. 43, 1/3611).

7. The decree of the President of the Republic of Belarus of June 18, 2002 No. 13 "About introduction of amendments to the Decree of the President of the Republic of Belarus of September 28, 2000 No. 20" (The national register of legal acts of the Republic of Belarus, 2002, No. 70, 1/3775).

8. Paragraphs of the fifth and seventh of Item 1 of the Decree of the President of the Republic of Belarus of August 30, 2002 No. 22 "About introduction of amendments to some decrees of the President of the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2002, No. 100, 1/4003; 2005, No. 5, 1/6157).

9. The decree of the President of the Republic of Belarus of July 30, 2003 No. 18 "About compulsory insurance from labor accidents and occupational diseases" (The national register of legal acts of the Republic of Belarus, 2003, No. 86, 1/4817).

10. The decree of the President of the Republic of Belarus of July 30, 2003 No. 19 "About modification and amendments in the Decree of the President of the Republic of Belarus of September 28, 2000 No. 20" (The national register of legal acts of the Republic of Belarus, 2003, No. 86, 1/4818).

11. Subitems 1.5 and 1.6 of Item 1 of the Decree of the President of the Republic of Belarus of February 16, 2004 No. 1 "About modification and amendments in some decrees of the President of the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2004, No. 27, 1/5326).

12. The presidential decree of the Republic of Belarus of February 19, 1999 No. 100 "About procedure and conditions of carrying out obligatory civil liability insurance of owners of vehicles" (The national register of legal acts of the Republic of Belarus, 1999, No. 17, 1/140).

13. Item 2 of the Presidential decree of the Republic of Belarus of December 1, 1999 No. 701 "About approval of the Charter of the Belarusian bureau on transportation insurance" (The national register of legal acts of the Republic of Belarus, 1999, No. 93, 1/810).

14. Items 1 and 3 of the Presidential decree of the Republic of Belarus of June 12, 2000 No. 339 "About enhancement of procedure and conditions of carrying out obligatory civil liability insurance of owners of vehicles" (The national register of legal acts of the Republic of Belarus, 2000, No. 58, 1/1365).

15. The presidential decree of the Republic of Belarus of June 26, 2000 No. 354 "About compulsory medical insurance of the foreign citizens and stateless persons who are temporarily staying or temporarily living in the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2000, No. 62, 1/1389).

16. The presidential decree of the Republic of Belarus of September 30, 2000 No. 531 "About modification and amendments in the Presidential decree of the Republic of Belarus of June 26, 2000 No. 354" (The national register of legal acts of the Republic of Belarus, 2000, No. 95, 1/1661).

17. Item 5 of the editorial and technical amendments and changes made to texts of the regulatory legal acts included in the Collection of the operating regulatory legal acts of the President of the Republic of Belarus (1994-2000), the operating regulatory legal acts of the President of the Republic of Belarus approved by the Presidential decree of the Republic of Belarus of April 25, 2001 No. 216 "About the Collection (1994-2000)" (The national register of legal acts of the Republic of Belarus, 2001, No. 43, 1/2588).

18. The presidential decree of the Republic of Belarus of March 26, 2002 No. 159 "About modification and amendments in the Presidential decree of the Republic of Belarus of February 19, 1999 No. 100" (The national register of legal acts of the Republic of Belarus, 2002, No. 38, 1/3575).

19. The presidential decree of the Republic of Belarus of June 18, 2002 No. 322 "About modification and amendments in the Presidential decree of the Republic of Belarus of June 26, 2000 No. 354" (The national register of legal acts of the Republic of Belarus, 2002, No. 70, 1/3778).

20. The presidential decree of the Republic of Belarus of May 2, 2003 No. 178 "About modification of the Presidential decree of the Republic of Belarus of June 26, 2000 No. 354" (The national register of legal acts of the Republic of Belarus, 2003, No. 51, 1/4575).

21. Item 1 of the Presidential decree of the Republic of Belarus of July 9, 2004 No. 320 "About modification and amendments in the Presidential decree of the Republic of Belarus of February 19, 1999 No. 100" (The national register of legal acts of the Republic of Belarus, 2004, No. 109, 1/5668).

22. Subitem 1.11 of Item 1 of the Presidential decree of the Republic of Belarus of July 26, 2004 No. 355 "About modification and amendments in presidential decrees of the Republic of Belarus and recognition voided some decrees and separate provisions of presidential decrees of the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2004, No. 120, 1/5713).

23. The presidential decree of the Republic of Belarus of October 29, 2004 No. 527 "About debt collection on insurance premiums on compulsory insurance from labor accidents and occupational diseases, penalties and penalty fee" (The national register of legal acts of the Republic of Belarus, 2004, No. 172, 1/5961).

24. The presidential decree of the Republic of Belarus of December 22, 2004 No. 610 "About some features of obligatory civil liability insurance of carrier before passengers" (The national register of legal acts of the Republic of Belarus, 2005, No. 1, 1/6088).

25. Items 1, 2, subitems 3.2 and 3.3 of Item 3, Items 4, 7 Presidential decrees of the Republic of Belarus of June 20, 2005 No. 287 "About some measures for protection of the rights to housing" (The national register of legal acts of the Republic of Belarus, 2005, No. 103, 1/6562).

26. Item 2 of the Presidential decree of the Republic of Belarus of January 9, 2006 No. 15 "About realtor activities in the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2006, No. 7, 1/7130).

27. Subitem 2.1 of Item 2 of the Presidential decree of the Republic of Belarus of April 5, 2006 No. 204 "About approval of the Regulations on provision to foreign citizens and stateless persons of shelter in the Republic of Belarus, its loss and deprivation and other questions of stay in the republic of foreign citizens and persons without citizenship" (The national register of legal acts of the Republic of Belarus, 2006, No. 56, 1/7423).

 

Approved by the Presidential decree of the Republic of Belarus of August 25, 2006 No. 530

Regulations on insurance activity in the Republic of Belarus

Section I. Basic provisions

Chapter 1. Bases of insurance activity

1. This Provision determines the relations by insurance in the Republic of Belarus with participation of citizens of the Republic of Belarus, foreign citizens, stateless persons, the organizations, including foreign and international, and also the Republic of Belarus and its administrative and territorial units, foreign states if other is not determined by the Constitution of the Republic of Belarus.

Action of this provision does not extend on:

social insurance;

merging of the insurers (except as specified, provided in Chapter 13 of this provision) who are created according to the decision of the President of the Republic of Belarus and perform the activities in the procedure established by it.

The regulatory legal acts which are not regulating questions of insurance in general, as a rule, shall not contain the regulations determining its procedure and conditions.

2. In this Provision and for the purposes of regulation of the relations on insurance the following main terms and their determinations are applied:

the assistans-organization - the commercial organization created including with participation of insurance companies of the Republic of Belarus, for rendering technical, medical and other assistance to the insurer (insured person, the beneficiary) according to the insurance contract in case of loss occurrence;

internal control - the process performed by insurance company for the purpose of ensuring the ordered and effective implementation of insurance activity according to requirements of the legislation and local regulatory legal acts of insurance company;

national bank - bank in the value determined in article 8 of the Bank code of the Republic of Belarus concerning which the Republic of Belarus and (or) its administrative and territorial unit owing to the prevailing participation in its authorized fund can determine the decisions made by this bank;

diversification - the condition of implementation of investments and placement of insurance reserves by the insurer assuming them simultaneous distribution on the objects of implementation of investments and banks which are not connected with each other;

the standard rate of responsibility - the maximum amount of the agreement obligations of voluntary insurance (joint insurance, reinsurance) remaining on own deduction of insurance company established by the Ministry of Finance;

merging of the insurers - the non-profit organization uniting insurers and (or) insurance brokers, created in the form of association (union);

object of insurance - the valuable interests which are not contradicting the legislation, connected:

with damnification of life or to health of the insurer or other physical person (the personal insurance which is not relating to life insurance) called in the agreement;

with achievement of certain age by citizens or with approach in their life of other insured event (the personal insurance relating to life insurance) provided in the agreement;

with loss (death) or damage of the property which is in ownership, use, the order of the insurer or called in the agreement of other beneficiary or with causing damage to their property rights, including with emergence of losses from business activity in connection with failure to carry out (accomplishment in an inadequate way) the obligations partners of the subject of managing or with change of conditions of these activities for circumstances, independent of the entrepreneur, (property insurance);

with responsibility according to the obligations which arose in case of causing by the insurer or the other person on whom such responsibility can be conferred, harm of life, to health or property of other persons, or with the agreement responsibility (liability insurance);

implementation of investments - activities of the insurer for investment of insurance reserves in securities, real estate, precious metals and other property according to the procedure, established by the legislation, and also on other investment of investments which is not forbidden by the legislation for profit earning (income);

reinsurance - insurance by one insurer (reinsurer) on the conditions of risk of accomplishment of part of the obligations determined in the agreement at other insurer (overcautious person);

reinsurance award - the cash amount which is subject to payment by the reinsurer to the overcautious person under the agreement of reinsurance;

preliminary payment - the part of insurance payment corresponding to actually certain and documented extent of harm which the insurer has the right to pay to the insurer (beneficiary) according to its statement to complete definition of the size of subject to indemnification;

residents of the Republic of Belarus:

the physical persons having the permanent residence in the Republic of Belarus, including temporarily being outside the Republic of Belarus;

the legal entities with the location in the Republic of Belarus created according to the legislation of the Republic of Belarus;

the diplomatic representations and other official representations of the Republic of Belarus which are outside the Republic of Belarus;

the representative offices of the organizations created according to the legislation of the Republic of Belarus, which are outside the Republic of Belarus;

nonresidents of the Republic of Belarus:

the physical persons having the permanent residence outside the Republic of Belarus, including temporarily being in the Republic of Belarus;

the legal entities created according to the right of foreign states;

the organizations, not being legal entities, with the location outside the Republic of Belarus, created according to the right of foreign states;

the diplomatic representations and other official representations of foreign states which are in the Republic of Belarus;

international organizations, their branches and representations;

the representative offices of the organizations created according to the right of foreign states, which are in the Republic of Belarus;

internal control system - set of internal control, the organizational and functional structure and local regulatory legal acts of insurance company determining strategy, policy, techniques and procedures of internal control, risk management, risk management process and also powers and responsibility of governing bodies and officials of insurance companies;

joint insurance - insurance under one agreement jointly several insurers of the same object of insurance;

insurance - the relations on protection of valuable interests of citizens of the Republic of Belarus, foreign citizens, stateless persons, the organizations, including foreign and international, and also the Republic of Belarus and its administrative and territorial units, foreign states in case of approach of certain events (insured events) at the expense of the insurance reserves created by insurers in accordance with the established procedure;

insurers are citizens of the Republic of Belarus, foreign citizens, stateless persons, the organizations, including foreign and international, and also the Republic of Belarus and its administrative and territorial units, foreign states which signed insurance contracts with insurers or being those by law or the act of the President of the Republic of Belarus;

insurance payment - the cash amount paid to the insurer (insured person, the beneficiary) in case of loss occurrence. In case of property insurance and liability insurance insurance payment is made in the form of insurance indemnity, in case of personal insurance - in the form of insurance coverage;

insurance activity - activities for insurance, including for joint insurance and reinsurance;

insurance sum (responsibility limit) - the cash amount established by the law, the act of the President of the Republic of Belarus or the insurance contract within which if other is not provided by the law, the act of the President of the Republic of Belarus, the insurer shall make insurance payment in case of loss occurrence;

insurance value - actual value of property or entrepreneurial risk. The insurance value is considered for property - its actual value in the location in day of the conclusion of the insurance contract, for entrepreneurial risk - losses from business activity which the insurer would suffer in case of loss occurrence;

insurance agent - physical person or the organization performing intermediary activities for insurance on behalf of insurance company;

insurance broker - the commercial organization performing intermediary activities for insurance on its own behalf based on the order of insurance company or the insurer or at the same time each of them;

insurance premium (insurance premium) - the cash amount which is subject to payment by the insurer to the insurer for insurance if other is not established by this Provision or other acts of the President of the Republic of Belarus;

insurance (reinsurance) pool - joint activities of insurance companies without formation of legal entity based on the agreement of particular partnership (cooperation agreement) for the purpose of ensuring financial stability of insurance (reinsurance) transactions on separate types of insurance;

insurance risk - the expected event having signs of probability and accident on which case of approach insurance is performed;

insured event - the event provided in the insurance contract or the legislation in case of which approach the insurer has obligation to make insurance payment to the insurer (insured person, the beneficiary);

insurance rate - rate of insurance premium from unit of insurance sum. The insurance rate by types of voluntary insurance includes basic insurance rate which structure is determined by the Ministry of Finance, and the corrective coefficients applied to it;

insurers - the commercial organizations created for implementation of insurance activity and having special permissions (licenses) for implementation of insurance activity (further - insurers, insurance companies);

reinsurance rate - the relative size representing the relation of reinsurance award to amount of obligations assumed under the agreement of reinsurance.

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.

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.

Contracts of voluntary insurance can be signed by insurance companies in writing by the methods provided by the civil legislation and this Provision in electronic form through the official site on the global computer Internet:

insurer;

the organization which is signing the insurance contract on behalf of the insurer and having the right according to the legislation to carry out identification of the insurers (insured persons, beneficiaries), their representatives who addressed it without personal presence of specified persons.

At the same time contracts of voluntary insurance can be signed without application of the digital signature developed with use of personal key which certificate of open key is published by republican certification center of the State management system open keys of verification of the digital signature of the Republic of Belarus (further - the digital signature).

The insurer in case of the conclusion of the agreement of voluntary insurance has the right to use forms of insurance policies (certificates, certificates), it developed. The Ministry of Finance determines obligatory details of the insurance policy (the certificate, the certificate), the procedure for filling of details and use of the insurance policy (the certificate, the certificate) including applied when implementing types of compulsory insurance.

The insurance policy (the certificate, the certificate) is signed by the insurer and the insurer in case of the conclusion of the agreement of voluntary insurance based on the oral statement of the insurer. In case of the conclusion of the agreement of voluntary insurance based on the written application of the insurer the insurance policy (the certificate, the certificate) can be signed only by the insurer.

When implementing insurance activity the insurance company can carry out identification of the insurers (insured persons, beneficiaries) who addressed it, their representatives without personal presence of specified persons in the presence of data on these insurers (insured persons, beneficiaries), their representatives:

at insurance company, the insurers (insured persons, beneficiaries) received earlier in case of identification, their representatives to personal presence at insurance company;

from the existing certificate of the open key of verification of the digital signature published by republican certification center of the State management system open keys of verification of the digital signature of the Republic of Belarus;

at the organization to which the insurance company charged carrying out identification of insurers (insured persons, beneficiaries), their representatives received in case of their identification in case of personal presence at the specified organizations;

in the automated information systems to which the insurance company, the insurers (insured persons, beneficiaries), their representatives to personal presence received in case of identification is connected.

The Ministry of Finance has the right to determine requirements to procedure and conditions of the conclusion of the agreement of voluntary insurance in electronic form, and also to procedure for storage by insurance companies of the documents which are the basis for the conclusion of the agreement of voluntary insurance and created in electronic form.

______________________________

* Including the document in electronic form (including the electronic document).

4. In the Republic of Belarus are performed:

4.1. following types of compulsory insurance:

compulsory insurance of the structures belonging to citizens;

obligatory civil liability insurance of owners of vehicles;

obligatory civil liability insurance of carrier before passengers;

compulsory medical insurance of the foreign citizens and stateless persons who are temporarily staying or temporarily living in the Republic of Belarus;

compulsory liability insurance of the commercial organizations performing realtor activities for damnification in connection with its implementation;

compulsory insurance with the state support of harvest of crops, the cattle and bird;

obligatory civil liability insurance of interim (anti-recessionary) managers in proceeedings about economic insolvency (bankruptcy);

obligatory civil liability insurance of legal entities and individual entrepreneurs for the harm done by the activities connected with operation of separate objects;

obligatory civil liability insurance of carrier in transit dangerous goods;

compulsory insurance from labor accidents and occupational diseases;

compulsory national insurance (stipulated by the legislation compulsory insurance of life, health and (or) property of citizens at the expense of means of the relevant budget);

other types of compulsory insurance determined by the laws or acts of the President of the Republic of Belarus;

4.2. types of voluntary insurance according to the rules of insurance approved by the insurer or merging of the insurers including:

4.2.1. the insurance relating to life insurance including:

lives (only on case of death or achievement of certain age by insured person, on case of death and achievement of certain age by insured person, and also life insurance with condition of implementation of periodical insurance payments (rent);

additional pension.

In addition in the agreement of voluntary insurance of life and (or) additional pension insurance on case of damnification of life or to health of insured person as a result of accident, including cases of disability and receipt of disability, and also approach can be provided in life of insured person of other insured event provided in the agreement;

4.2.2. the insurance which is not relating to life insurance including insurance:

from accidents;

from accidents and diseases for the period of trip abroad;

medical expenses;

property of the legal entity;

property of citizens;

freights;

construction risks;

entrepreneurial risk;

civil responsibility of owners of vehicles;

civil responsibility of owners of aircrafts;

civil responsibility of carrier and freight forwarder;

the civil responsibility of the organizations creating the increased danger to people around;

the civil responsibility of the employer for the harm done to life and health of workers;

the civil responsibility for damnification in connection with implementation of professional activity;

other types of voluntary insurance which are not relating to life insurance;

4.3. reinsurance.

5. Insurers have the right to sign with insurers insurance contracts in the interests, and also for the benefit of other subjects of the civil law (beneficiaries), except as specified, established by legal acts.

The insurance broker has the right to perform intermediary activities for types of voluntary insurance, reinsurance, except as specified, provided present the Provision.

6. When implementing the types of insurance relating to life insurance, the insurer shall according to the insurance contract signed for the term of at least three years in addition over the guaranteed income established according to the insurance contract to direct to increase in accumulatings of insured persons under such agreement at least 50 percent of profit on implementation of investments by means of investment of capital of mathematical reserves and their placement.

7. Functions of the head, his deputies, the chief accountant of the insurer can be carried out by citizens of the Republic of Belarus, and also the foreign citizens and persons without citizenship who are constantly living in the Republic of Belarus based on the employment contracts, except as specified, provided in part two of Item 8 of this provision.

The conclusion of employment contracts with the head, his deputies and the chief accountant of the insurer, the head, his deputies of insurance broker who underwent state registration is made after confirmation of their professional suitability by the Ministry of Finance, and the termination of employment contracts with these persons - with the notification of the Ministry of Finance in five-day time from the date of cancellation of the employment contract.

Heads, their deputies and chief accountants of insurers, heads, deputies of insurance brokers, and also heads of their separate divisions confirm the professional suitability at least once in five years.

The Ministry of Finance has the right to discharge of position of persons specified in this Item and to require extraordinary confirmation of their professional suitability in cases:

systematic (rub also more time within the last twelve consecutive months) involvement of such officials to the administrative responsibility for making of administrative offenses in connection with execution of service duties by them;

non-executions, improper or untimely execution of the requirement (instruction) about elimination of the revealed violations;

violations by insurance company of the licensed requirements and conditions which entailed suspension of action of special permission (license) for implementation of insurance activity according to the procedure, established by the legislation;

failures to meet requirements of the Ministry of Finance, sent to insurance company according to subitems 69.6-69.8 of Item 69 of this provision.

Discharge from position consists in prohibition to persons specified in this Item to perform ex-officio full powers before extraordinary confirmation of their professional suitability about what the relevant requirement (instruction) which is subject to immediate execution is taken out.

In case of non-confirmation by the Ministry of Finance of professional suitability of persons specified in this Item, the employment contract (contract) with them is terminated.

The employment contract is signed with the head of merging of the insurers after coordination of its candidate with the Ministry of Finance.

8. Accomplishment of paid work on the terms of regular combining jobs, except teaching, scientific or other creative activities, and also medical practice is forbidden to heads, their deputies and chief accountants of insurers, heads, their deputies of insurance brokers, and also heads of their separate divisions.

The head of insurance company in case of termination of the employment contract with the chief accountant has the right to give under the agreement conducting financial accounting and creation of the reporting of the organization or to the individual entrepreneur, rendering services in conducting financial accounting and creation of the reporting, for a period of up to four months without confirmation of their professional suitability in accordance with the established procedure.

Chapter 2. State regulation of insurance activity

9. State regulation of insurance activity is performed by the President of the Republic of Belarus, National assembly of the Republic of Belarus, Council of Ministers of the Republic of Belarus, the Ministry of Finance.

10. State regulation of insurance activity is made by determination:

the main directions of state policy in the field of insurance activity;

procedure of insurance activity in the Republic of Belarus;

procedures of registration, reorganization and liquidation of insurance companies, insurance brokers and associations of insurers;

procedure for licensing of insurance activity;

rules and principles of insurance, reinsurance, tariff policy;

requirements to forming, placement, use of the insurance reserves and other funds providing financial stability of insurance companies.

11. President of the Republic of Belarus:

determines the main directions of state policy in the field of insurance activity;

enters new types of compulsory insurance;

determines the amount of assignments, procedure and the directions of use of means of funds of precautionary (preventive) actions for voluntary insurance of life, medical expenses, to types of compulsory insurance, except for compulsory national insurance, compulsory liability insurance of the commercial organizations performing realtor activities for damnification in connection with its implementation, compulsory insurance with the state support of harvest of crops, the cattle and bird, obligatory civil liability insurance of interim (anti-recessionary) managers in proceeedings about economic insolvency (bankruptcy);

approves procedure of investments by means of investment of capital of insurance reserves and their placement, acceptance in property of the Republic of Belarus and (or) its administrative and territorial units of shares in authorized funds, common (ordinary) or other voting shares of insurance companies;

establishes the sizes of insurance premiums and insurance rates by types of compulsory insurance, responsibility limits of obligatory civil liability insurance of owners of vehicles, obligatory civil liability insurance of legal entities and individual entrepreneurs for the harm done by the activities connected with operation of separate objects, to obligatory civil liability insurance of carrier in transit of dangerous goods;

determines other conditions of implementation of insurance activity in case of voluntary insurance of objects of nuclear power plant in the Republic of Belarus and responsibility connected with their operation along with the conditions provided by this Provision;

performs other powers.

12. Council of Ministers of the Republic of Belarus within the competence:

in coordination with the President of the Republic of Belarus establishes procedure of investments by means of investment of capital of insurance reserves and their placement;

in coordination with the President of the Republic of Belarus makes decisions on acceptance in property of the Republic of Belarus of shares in authorized funds, common (ordinary) or other voting shares of insurance companies;

approves republican development programs of insurance activity;

according to the laws and acts of the President of the Republic of Belarus adopts the regulatory legal acts governing the relations in the sphere of insurance including for determination of cases of liability insurance for agreement breach;

performs other powers in the field of state regulation of insurance activity.

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