of February 24, 2012 No. 99
About approval of Requirements to risk management system and internal control of insurance group
According to the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" the Board of National Bank of the Republic of Kazakhstan DECIDES:
1. Approve the enclosed Requirements to risk management system and internal control of insurance group.
2. To the insurance holdings, the insurance (reinsurance) organizations entering into insurance group as the parent organization till January 1, 2013 to give the risk management systems and internal control in insurance group in compliance with requirements of this resolution.
Chairman of National Bank
Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of February 24, 2012 No. 99
These Requirements to risk management system and internal control of insurance group (further - Requirements) are developed according to the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" for the purpose of determination of requirements to forming in insurance group of the corresponding risk management systems and internal control providing powers and functional obligations on risk management and internal control in insurance holding, the insurance (reinsurance) organization (further the Organization), and also the affiliated organizations of the Organization and (or) the organizations in which the insurance holding and (or) its affiliated organizations have considerable equity participation (further - members of insurance group).
1. The board of directors (for economic partnerships - general meeting of participants) provides to the Organization compliance of risk management systems and internal control in insurance group according to Requirements and creates conditions for execution by the Organization and members of insurance group of the obligations assigned to them in the field of risk management and implementation of internal control.
2. Risk management and internal control in insurance group is provided by means of the internal documents approved by the board of directors (general meeting of participants) of the Organization and determining procedure, procedures, requirements, the purposes, the principles and methods of functioning of risk management systems and internal control (daleevnutrenny documents).
Internal documents determine:
main objectives and activities of insurance group;
forecast values of financial and other performance of activities of insurance group;
risk management policy in insurance group;
regulations on organizational and functional management structure;
policy on appointments and remunerations of leading employees;
regulations on terms and forms of provision of the management reporting;
regulations on the organization of internal control system and service of internal audit.
3. Board of directors (general meeting of participants) of the Organization:
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
Database include more 40000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system
If you cannot find the required document, or you do not know where to begin, go to Help section.
In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.
You also may open the section Frequently asked questions. This section provides answers to questions set by users.