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THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND SUPERVISION OF THE FINANCIAL MARKET AND THE FINANCIAL ORGANIZATIONS

of March 1, 2010 No. 25

About approval of Requirements to implementation by insurance company, branch of the insurance nonresident organization of the Republic of Kazakhstan of insurance activity, including in relations with participants of the insurance market, to the contract of the order signed between insurance company and insurance agent and powers of insurance agent for implementation of intermediary activities in the insurance market, and also the minimum training program of insurance agents and requirements to procedure for carrying out training

(as amended on 12-02-2021)

For the purpose of implementation of the Law of the Republic of Kazakhstan of December 30, 2009 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning compulsory and mutual insurance, the taxation" the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Approve the enclosed Requirements to implementation by insurance company, branch of the insurance nonresident organization of the Republic of Kazakhstan of insurance activity, including in relations with participants of the insurance market, to the contract of the order signed between insurance company and insurance agent and powers of insurance agent for implementation of intermediary activities in the insurance market, and also the minimum training program of insurance agents and the requirement to procedure for carrying out training (further - Requirements).

2. This resolution becomes effective after ten calendar days after day of its first official publication except for of the subitem 12) of Item 3 of Requirements which becomes effective since July 1, 2010.

3. To department of supervision of subjects of the insurance market and other financial organizations (Karakulov D. Sh.):

1) together with Legal department (Sarsenova N. C) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) in ten-day time from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan to bring this resolution to the attention of the interested divisions of the Agency, the insurance (reinsurance) organizations, Consolidation of legal entities "Association of financiers of Kazakhstan".

4. To service of the Chairman of the Agency (Kenzhe A. A.) take measures for publication of this resolution in mass media of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of the Agency Aldambergen A. U.

Chairman

E.Bakhmutova

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of March 1, 2010, No. 25

Requirements to implementation by insurance company, branch of the insurance nonresident organization of the Republic of Kazakhstan of insurance activity, including in relations with participants of the insurance market, to the contract of the order signed between insurance company and insurance agent and powers of insurance agent for implementation of intermediary activities in the insurance market, and also the minimum training program of insurance agents and the requirement to procedure for carrying out training

1. These Requirements to implementation by insurance company, branch of the insurance nonresident organization of the Republic of Kazakhstan of insurance activity, including in relations with participants of the insurance market, to the contract of the order signed between insurance company and insurance agent and powers of insurance agent for implementation of intermediary activities in the insurance market, and also the minimum training program of insurance agents and the requirement to procedure for carrying out training (further - Requirements) are developed according to articles 11-1, 18 and 18-1 of the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" (further - the Law) for the purpose of settlement of the processes arising in case of the conclusion and execution of insurance contracts including when implementing by insurance agent of intermediary activities for the conclusion of insurance contracts for and on behalf of insurance company, branch of the insurance nonresident organization of the Republic of Kazakhstan.

Collection, processing and personal data protection according to Requirements are performed according to the Law of the Republic of Kazakhstan of May 21, 2013 "About personal data and their protection".

The provisions of these Requirements regulating procedure insurance company of insurance activity including in relations with participants of the insurance market, to the contract of the order signed between insurance company and insurance agent and powers of insurance agent for implementation of intermediary activities in the insurance market, and also the minimum training program of insurance agents and the requirement to procedure for carrying out training, extend to branches of the insurance nonresident organizations of the Republic of Kazakhstan performing insurance activity in the territory of the Republic of Kazakhstan taking into account the features provided by the Law of the Republic of Kazakhstan "About insurance activity".

2. In these Requirements the following concepts are used:

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