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of December 29, 2023 No. 204
About approval of the Regulations on accounting treatment by the insurer of the agreements connected with implementation of activities for insurance and requirements to information security of the insurer
According to Articles 7, 15, 55-1, 56 of the Law of Ukraine "About the National Bank of Ukraine", Articles 18, 22, 23, Item 30 of the Section VII of the Law of Ukraine "About financial services and finance companies", Articles 45, 47, 109, 114, Item 25 of the Section XV of the Law of Ukraine of November 18, 2021 No. 1909-IX "About insurance" and for the purpose of establishment of requirements to accounting of insurance contracts (reinsurance) and other agreements connected with implementation by the insurer of activities for insurance, rules of accounting of technical reserves, maintaining the asset register by the insurer for covering of technical reserves, and also requirements for information security of the insurer Board of the National Bank of Ukraine DECIDES:
1. Approve Regulations on accounting treatment as the insurer of the agreements connected with implementation of activities for insurance and requirements to information security of the insurer (further - Provisions) which is applied.
2. The insurer who had the status of the insurer as of January 1, 2024 shall bring inclusive till June 30, 2024 the activities into accord with requirements of the Provision and direct to the National Bank of Ukraine (further - National Bank) written assurance of any form of reduction of the activities in compliance with requirements of the Provision, except the case specified in Item 3 of this resolution.
3. The National Bank till June 30, 2025 does not constitute the document in which violation is fixed, and does not apply corrective action for violation of requirements of the Provision, including requirements for reduction in compliance with requirements of the Provision of program and/or technical supply of information systems of the insurer, to the insurer who had the status of the insurer as of January 01, 2024 and did not bring the activities into accord with requirements of the Provision in time, specified in Item 2 of this resolution, on condition of provision by this insurer to National Bank no later than July 15, 2024:
1) information on impossibility of reduction of the activities by it in compliance with requirements of the Provision in the time determined in Item 2 of this resolution with reasons for the reasons;
2) descriptions of actions (stages) directed to reduction of the activities in compliance with requirements of the Provision with indication of the term during which activities of the insurer will be brought into accord with requirements of the Provision. Date of completion of such term cannot exceed on June 30, 2025.
4. The National Bank for the purpose of control of condition of reduction by insurers of the activities in compliance with requirements of the Provision has the right to demand from insurers who provided to National Bank information specified in Item 3 of this resolution, documents and their copies, information, and also written explanations on condition of such reduction and on the measures taken by the insurer in writing.
5. To department of methodology of regulation of activities of non-bank financial institutions (Sergey Savchuk) after official publication to inform insurers information on adoption of this resolution.
6. The resolution becomes effective since January 1, 2024.
Chairman
A. Magnificent
Approved by the Resolution of Board of the National Bank of Ukraine of December 29, 2023 No. 204
1. This Provision is developed according to the Law of Ukraine "About the National Bank of Ukraine", the Law of Ukraine "About financial services and finance companies" and the Law of Ukraine "About insurance" (further - the Insurance law).
2. Terms in this Provision are used in the following values:
1) authentication in information systems of the insurer (authentication) - the procedure of confirmation of information on the user containing in information systems of the insurer by its identification;
2) authorization in information systems of the insurer (authorization) - the procedure of provision to users of the authorized access to information systems of the insurer after their authentication;
3) the authorized user in information systems of the insurer (the authorized user) - physical person or legal entity which in the procedure established by the insurer acquired the right of the authorized access to information systems of the insurer;
4) auditor trace - the function of fixing of all events in information systems of the insurer providing chronological record, set of records and/or the destination, source of records which provide documentary confirmation of the sequence of actions which at some point influenced specific transaction, the procedure, event or the device in information systems of the insurer;
5) business process - set of the interconnected or interdependent actions of the insurer directed to creation, management and/or maintenance of provision of insurance, reinsurance and/or accompanying service (realization of insurance/reinsurance product) including the transactions connected with the conclusion, servicing and agreement performance of insurance (reinsurance) and other actions (transactions) of the insurer;
6) agreement performance of insurance (reinsurance) - realization by the agreement party of insurance (reinsurance) and/or other person in accordance with the terms of the insurance contract (reinsurance) of the rights and obligations determined concerning it by such agreement including realization of the rights and obligations on modification of the insurance contract (reinsurance), accomplishment of monetary commitments of the parties under such agreement, early termination of the insurance contract (reinsurance);
7) information security of the insurer set of the organizational and other actions of the insurer ensuring safety, processing and integrity of information, information security in information systems of the insurer, fulfillment of requirements of the legislation of Ukraine in the sphere of processing of personal data according to the Constitution of Ukraine, the Law of Ukraine "About personal data protection", other laws and regulatory legal acts, international treaties of Ukraine which consent to be bound is provided by the Verkhovna Rada of Ukraine;
8) information systems of the insurer set of the information and communication, information (automated) systems and other systems of the insurer providing registration and accounting of insurance contracts (reinsurance), the declared requirements of implementation of insurance payment, the created technical reserves, assets for covering of technical reserves, accounting of other agreements and transactions connected with implementation by the insurer of activities for insurance and also information processing with use of program and/or technical supply of the insurer;
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