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LAW OF THE KYRGYZ REPUBLIC

of January 26, 2009 No. 31

About features of insurance in crop production

(as amended of the Law of the Kyrgyz Republic of 02.04.2016 No. 33)

Accepted by Jogorku Kenesh of the Kyrgyz Republic on December 12, 2008

The preamble voided according to the Law of the Kyrgyz Republic of 02.04.2016 No. 33

Article 1. The basic concepts used in this Law

1) the agent - the legal entity with absolute participation of the state determined by the Government of the Kyrgyz Republic for management of the funds allocated for support of insurance in crop production;

2) the appraiser (independent expert) - the physical person and legal entity performing on the basis of the contract with the authorized body determined by the Government of the Kyrgyz Republic, estimative activities;

3) complete death of crops - effects of impact of the adverse natural phenomena on crops in case of which costs for further cultivation and harvesting exceed the expected income from harvest;

4) the expected income from harvest - the income determined by the commission according to the technique approved by the Government of the Kyrgyz Republic;

5) the adverse natural phenomenon - the natural phenomenon (flood, hail, heavy rain, frosts, mudflow) from which death or damage of sowings of agricultural crops resulted and losses of products of crop production are allowed;

6) crop production - one of primary branches of agricultural industry including cultivation of crops by physical persons and legal entities;

7) the insurance contract in crop production (further - the insurance contract) - the agreement signed between the insurer and the insurer on the conditions determined by this Law and the Civil code of the Kyrgyz Republic;

8) crop production products - products received in the course of cultivation of crops (grain grains, corn on grain, haricots, sugar beet, cotton, tobacco, fruits);

9) ceased to be valid according to the Law of the Kyrgyz Republic of 02.04.2016 No. 33

10) insured event - event with which approach the insurance contract provides implementation of insurance payment;

11) insurance value - the cost of insured property specified in the insurance contract signed between the insurer and the insurer;

12) insurance premiums - the insurance premium which is periodically brought to the insurer by the insurer in accordance with the terms of the insurance contract;

13) insurance indemnity - the amount paid by the insurer according to the insurance contract in compensation of damage in case of loss occurrence;

14) the insurer - the legal entity who obtained the license for the right of implementation of insurance in the crop production according to the procedure established by regulatory legal acts of the Kyrgyz Republic in the field of insurance obliged to make in case of loss occurrence insurance payment to the insurer or the other person for benefit of whom the agreement (beneficiary), within the amount (insurance sum) defined by the agreement is signed;

15) the insurer - the person who is performing activities for production of above-mentioned types of products of crop production and signed the insurance contract with the insurer;

16) the standard rate of costs - the costs on separate engineering procedures, work types and expenditure items per one hectare of production of type of products of crop production expressed in som;

17) the franchize - release of the insurer from compensation of the damage which is not exceeding certain size.

Article 1-1. Regulation subject

This Law establishes features of insurance in crop production and regulates legal, financial and organizational basis of its carrying out.

Article 2. The legislation of the Kyrgyz Republic on features of insurance in crop production

2. Operation of this Law does not extend to activities for cultivation of products of crop production on lands of nonagricultural appointment.

Article 3. Object of insurance in crop production

Object of insurance in crop production are the material and cash interests of the insurer connected with partial or total compensation of losses of the insurer in case of loss occurrence which extent is established according to this Law.

Article 4. Insurance purposes in crop production

The insurance purposes in crop production are:

1) ensuring protection of material and cash interests of the producer of products of crop production against effects of the adverse natural phenomena by means of implementation of insurance payments in case of insured events in the amount of and procedure, provided by this Law;

2) non-admission of sharp decrease in the income of producers due to rendering assistance in increase in efficiency of the state support of crop production.

Article 5. Competence of the Government of the Kyrgyz Republic

Government of the Kyrgyz Republic:

Annually develops 1) and approves the state program in the field of crop production proceeding from which budgetary funds for insurance are provided;

2) approves standard forms of agreements:

about insurance in crop production;

about procedure and conditions of partial compensation of insurance premium and insurance payments;

3) approves standard rates of production costs of the types of products of crop production which are subject to insurance on one hectare of cultivated area;

4) is approved by Regulations on republican agricultural insurance fund;

5) is approved by procedure for use of the funds allocated for support of insurance in crop production and the amount of fee of the agent;

6) is determined by authorized state body in the field of crop production;

7) approves criteria and characteristics of determination of the adverse natural phenomena, and also standard form of the reference confirming the fact of the occurred adverse natural phenomenon;

8) approves procedure for creation of the commissions on determination of the size of the acreage which were affected by the adverse natural phenomenon, form of the act of inspection upon the adverse natural phenomenon and also the organization of their work.

Article 6. The organization of insurance in crop production

1. Insurance of products of crop production is voluntary with participation of the state. If the rural producer intends to insure other types of crops, then he has the right to perform relations with the insurer according to regulatory legal acts in the field of insurance.

2. Insurance companies sign insurance contracts in the field of crop production according to this Law.

Article 7.

Voided according to the Law of the Kyrgyz Republic of 02.04.2016 No. 33

Article 8. Types of insured events in case of insurance in crop production

Death or damage of products of crop production which were affected by the adverse natural phenomenon or their set owing to which there were losses (damage) at the insurer belong to insured events in case of insurance in crop production.

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