the overcautious person - the insurance or reinsurance organization accepting insurance risks on reinsurance from other insurance company;

solvency of insurers (overcautious persons) - capability of insurers (overcautious persons) timely and completely to fulfill the financial liabilities. Basis of solvency is availability of the created authorized capital, sufficient insurance reserves, and also systems of reinsurance;

the connected persons - the physical persons or legal entities having special relations with the insurer (overcautious person) namely:

any person from structure of the Supervisory board of the insurer (overcautious person) or other authority of the insurer (overcautious person), and also their close relatives;

any legal entity or the physical person owning share more than 20% of the authorized capital of the insurer (overcautious person), or any of heads and large shareholders (founders) of this legal entity and also their close relatives;

legal entities and their managing directors who according to the legislation control activities of the insurer (overcautious person);

legal entities in relation to whom this insurer (overcautious person) is participant in the amount of more than 20% of the authorized capital, and also officials of the specified legal entities and their close relatives.

The face tied with one of the above-stated persons is recognized the face tied with each of them;

own deduction - the amount of the insurance bonds assumed by the insurer (overcautious person) according to each separate insurance contract (reinsurance), which is not subject to transfer to reinsurance;

insurance premiums - the fees paid by the insurer to the insurer, procedure for calculation and which sizes are established by the insurance contract, brought both in poison ivy, and in foreign currency;

solvency margin - ratio between assets of the insurer (overcautious person) and insurance bonds assumed by it;

the accounting period - calendar year from January 1 to December 31. At the same time the accounting period for which calculations and data according to this Provision are constituted is the period from January 1 of accounting year to the last calendar day of every quarter of accounting year;

reporting date - the last calendar day of the accounting period on which calculations and data according to this Provision are constituted;

obligations on separate risks - the insurance bonds assumed by the insurer (overcautious person) according to each separate insurance contract (reinsurance) and operating on reporting date;

the cumulative size of obligations of the insurer (overcautious person) - amount of the insurance bonds assumed by the insurer (overcautious person) on five largest separate risks (insurance contracts) and operating on reporting date;

the amount of sources of own means - result of the first Section of passive part of balance of the insurer (overcautious person) by the end of the reporting period;

the head of the insurer (overcautious person) - physical person which as a result of its appointment or election according to the legislation and constituent documents of the insurer (overcautious person), based on the signed employment contract, is sole executive body of the insurer (overcautious person) or heads collegiate executive body of the insurer (overcautious person).

3. Standard rates of solvency consist from:

standard rate of sufficiency of margin of solvency;

the maximum permissible size of obligations of insurers (overcautious persons) on separate risks;

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