It is registered
Ministry of Justice
Republic of Uzbekistan
On January 28, 2009 No. 1891
of December 26, 2008 No. 120
About approval of the Regulations on single requirements and standards of provision of insurance services for the sphere of business
In pursuance of the resolution of the President of the Republic of Uzbekistan of April 10, 2007 No. PP-618 "About measures for further reforming and market development of insurance services" ("Collection of the legislation of the Republic of Uzbekistan", 2007, to No. 15, of the Art. 158), I order:
Approved by the Order of the Ministry of Finance of the Republic of Uzbekistan of December 26, 2008 No. 120
This Provision according to the resolution of the President of the Republic of Uzbekistan of April 10, 2007 No. PP-618 "About measures for further reforming and market development of insurance services" ("The collection of the legislation of the Republic of Uzbekistan", 2007, No. 15, of the Art. 158) establishes single requirements and standards of provision of insurance services for the sphere of business.
1. For the purpose of this provision provision of insurance services for the sphere of business is understood as provision of insurance protection according to insurance contracts of entrepreneurial risks.
2. The single requirements established by this Provision are obligatory for the insurers providing insurance services for the sphere of business.
3. Standards of provision of insurance services for the sphere of business consist of standard concepts and standard conditions of provision of insurance services. Standards of provision of insurance services are applied by provision of insurance services to the sphere of business if other is not stipulated by the legislation or the insurance contract.
4. In case of the conclusion of the insurance contract the insurer shall provide to the consumer (to the legal entity or the individual entrepreneur, intended to sign the insurance contract of entrepreneurial risks) the reliable and complete information about:
a) insurer (open information);
b) insurance intermediaries (insurance agents) which are effective for and on behalf of the insurer (in the presence of such requirement from the consumer);
c) insurance services, that is about the price (insurance premium), covering, conditions, the purposes of services, risk factors, guarantees, special exceptions, etc.;
d) benefits and shortcomings of insurance service to the consumer;
e) obligations of the insurer and insurer;
e) insurance premiums (fees) and the expected returns of means (where it is applicable);
g) procedure for settlement of insurance claims and other terms of the contract of insurance.
Information provided by the insurer shall be exact and clear on all essential conditions (line items) which are not misleading easily clear and available in writing or on the corresponding electronic media.
5. The insurer shall:
provide insurance services which correspond to the legislation of the Republic of Uzbekistan;
provide insurance services which conform to requirements of this provision even when they have special conditions of implementation;
provide compliance of all actions of the employees to the legislation;
provide the complete information about the rendered services, and also timely information on changes in insurance conditions;
help with the choice of those insurance services which conforms to consumer requirements;
provide timely payment (insurance sum) in case of loss occurrence;
it is unconditional to correct errors in the work and to consider claims of insurers.
6. In case of the conclusion of the insurance contract between the insurer and the insurer the agreement on essential terms of the contract of insurance, stipulated in Article 929 Civil codes of the Republic of Uzbekistan which shall be accurately and clearly stated in the insurance contract shall be reached.
7. The insurance contract shall not contain the misleading descriptive actions or determinations. In case of the conclusion of the insurance contract the insurer has no right to refer unreasonably to any regulation, aiming to exclude or limit any stipulated by the legislation and/or the commonly accepted practice obligation or responsibility to the insurer.
8. If the insurance contract is signed in the absence of replies of insurer to any questions of the insurer, the insurer cannot require agreement cancelation subsequently, or recognitions its invalid on the ground that the corresponding circumstances were not reported by the insurer.
9. Insurers shall create and support system of processing and settlement of insurance claims. Insurers shall settle timely and fairly insurance claims. There shall be simple and objective settlement process of insurance claims and the dispute resolution by means of which insurance claims could be settled effectively and quickly. This process shall be clear and easily available.
The insurer has the right to address to the organization independent of the insurer (for example, service assistans or adzhaster), as the alternative mechanism of consideration of insurance claims.
10. The insurer after receipt of the notification on approach of the event provided by the insurance contract, and documents concerning this event having the right to request additional documents concerning the reasons and the sizes of the caused losses in accordance with the terms of the signed insurance contract.
11. If the insurer recognized event as insured event, he shall draw up the statement of insured event in which the size of the insurance indemnity (insurance sum) which is payable the insurer to the insurer is specified and to pay insurance indemnity (insurance sum) in time no later than five banking days from the date of creation of the act of insured event.
In case of non-recognition of event insured event the insurer shall no later than fifteen days from the date of the appeal of the insurer with indemnification requirement in time send to the insurer the notification containing motivated causes of failure.
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