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The document ceased to be valid since  February 7, 2019 according to Item 1 of the Resolution of Board of the National Bank of Ukraine of  February 5, 2019 No. 31

It is registered

Ministry of Justice of Ukraine

April 27, 2000

No. 254/4475

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of April 11, 2000 No. 135

About application of foreign currency in insurance activity

(as amended on 10-10-2017)

According to article 7 of the Law of Ukraine "About the National Bank of Ukraine", Item 1 of article 6 of the Decree of the Cabinet of Ministers of Ukraine of 19.02.93 No. 15-93 "About system of currency control and currency exchange control", the Law of Ukraine "About insurance" and for the purpose of enhancement of the operating procedure for application of foreign currency in insurance activity the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on application of foreign currency in insurance activity it (is applied).

2. Declare invalid the Procedure for application of foreign currency in insurance activity approved by the resolution of Board of the National Bank of Ukraine of 23.09.96 No. 245, the register. No. 391 of 23.09.96 (with changes and amendments).

4. To department of currency control (S. O. Yaremenko) to bring contents of this resolution to territorial administrations and OPERU of the National Bank of Ukraine for management in work.

5. The resolution becomes effective in ten days after its state registration in the Ministry of Justice of Ukraine.

Chairman

V. S. Stelmakh

Approved by the Resolution of Board of the National Bank of Ukraine of April 11, 2000 No. 135

Regulations on application of foreign currency in insurance activity

According to Item 14 of article 7 of the Law of Ukraine "About the National Bank of Ukraine", Item 1 of article 6 of the Decree of the Cabinet of Ministers of Ukraine of 19.02.93 No. 15-93 "About system of currency control and currency exchange control" and the Laws of Ukraine "About insurance", "About compulsory insurance of civil responsibility of owners of land vehicles" the National Bank of Ukraine establishes such procedure for use of foreign currency in insurance activity:

1. The resident insurer according to the signed insurance contracts has the right to make to the strakhoviku-resident insurance payments only in currency of Ukraine, and the nonresident insurer - in freely converted currency or in currency of Ukraine in the cases provided by the current legislation of Ukraine.

If there is need of determination of the size of insurance payment for freely converted currency for provision of services to nonresident insurers, then the corresponding transfer of payment amount in currency of Ukraine in freely converted currency on the official exchange rate of the National Bank of Ukraine on the date of carrying out payment is performed.

2. Strakhoviki-rezidenty (further - strakhovik) can buy foreign currency in the interbank foreign exchange market of Ukraine with such purpose:

2.1. For ensuring payments to nonresidents of insurance indemnity for resident insurers according to insurance contracts which action extends to the foreign territory.

For this purpose strakhovik provide to authorized banks:

the statement of the insurer (his legal successor or the third parties determined by insurance conditions) for payment of insurance sum (insurance indemnity);

the insurance act (average certificate) and the documents confirming the size of the caused loss and related expenses;

insurance contract or insurance certificate (policy, certificate).

2.2. For ensuring payments of insurance indemnity to nonresident insurers - to legal entities according to the signed insurance contracts which action extends to the foreign territory.

For this purpose strakhovik provide to authorized banks:

the statement of the insurer (his legal successor or the third parties determined by insurance conditions) for payment of insurance indemnity;

the insurance act (average certificate) and the documents confirming the size of the caused loss and related expenses;

insurance contract or insurance certificate (policy, certificate);

The reference signed by the head and the chief accountant of the insurer according to the insurance contracts signed with nonresident insurers - legal entities, with impress of a seal of body, authorized to exercise the state supervision of insurance activity (appendix 1).

2.3. For settlings with nonresidents according to agreements of strakhovik with these nonresidents on accomplishment of obligations by the last through network of the institutions "Asistans" ("Assistance") concerning ensuring provision of services to physical persons according to insurance contracts which action extends to the foreign territory if the insurer makes insurance payments in currency of Ukraine.

For this purpose strakhovik provide to authorized banks:

the agreement with the nonresident on procedure and conditions of provision of services to physical persons during their stay abroad in case of approach of the certain events provided by the insurance contract or the insurance certificate (the policy, the certificate);

in case of carrying out calculations for the services provided to insurers, except documents, the specified in paragraphs three and the fourth this Item, the report copy before the nonresident (bordero/bordereau) or other document which according to the agreement is processed strakhoviky also moves and contains list of insurance contracts (insurance certificates (policies, certificates), and the invoice (invoice/invoice).

2.4. For implementation of agreement settlements of reinsurance with nonresident overcautious persons.

For this purpose insurers give to authorized banks one of three such document packages: the agreement on reinsurance or the certificate about reinsurance (the certificate, the policy), and also confirmation about acceptance of risk in reinsurance [the cover-note (cover note)]; the agreement on reinsurance or the certificate about reinsurance (the certificate, the policy), and also report copy before the nonresident [bordero (bordereau)] or other document under the agreement of reinsurance which is drawn up by the insurer; the agreement on reinsurance or the certificate about reinsurance (the certificate, the policy), and also invoices [invoice (invoice)].

2.5. For implementation of agreement settlements about reinsurance with nonresident reinsurers.

For this purpose strakhovik provide to authorized banks:

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