ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of May 11, 2016 No. 239

About questions of activities of insurance brokers in the Kyrgyz Republic

For the purpose of regulation of activities of insurance brokers, in compliance with the Law of the Kyrgyz Republic "About the organization of insurance in the Kyrgyz Republic" the Government of the Kyrgyz Republic decides:

1. Approve Regulations on activities of insurance brokers in the Kyrgyz Republic according to appendix 1.

2. Ceased to be valid according to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of 14.12.2023 No. 678

3. This resolution becomes effective after fifteen days from the date of official publication.

Appendix 1

Regulations on activities of insurance brokers in the Kyrgyz Republic

1. General provisions

1. This Regulations on activities of insurance brokers in the Kyrgyz Republic (further - the Provision) establish the main requirements and conditions of implementation by insurance brokers of the professional activity in the Kyrgyz Republic.

2. The insurance broker is the legal entity performing intermediary activities for insurance on its own behalf based on orders of the insurer or insurer after receipt of the corresponding license.

2. Requirements imposed to activities of insurance broker

3. The insurance broker performs the following types of broker activities:

1) intermediary activities for the conclusion of insurance contracts on its own behalf and at the request of the insurer or agreements of reinsurance on its own behalf and at the request of the assignor;

2) consulting activities for questions of insurance (reinsurance);

3) search and involvement of physical persons and legal entities to insurance (reinsurance);

4) carrying out the comparative analysis of services and financial condition of the insurance (reinsurance) organizations;

5) information collection about objects of insurance, for the purpose of carrying out the comparative analysis of the services provided by the insurance (reinsurance) organizations;

6) development, at the request of clients, conditions of insurance (reinsurance), criteria of the choice of insurers (overcautious persons), rendering expert services in identification of insurance risks;

7) preparation and (or) registration at the request of the insurer (assignor) of the documents necessary for the conclusion of the insurance contract (reinsurance), information collection concerning insurance;

8) registration at the request of the insurer (assignor) of the insurance contract (reinsurance);

9) collection of insurance premiums from insurers (assignors) according to insurance contracts (reinsurance) for their subsequent translation to the insurance (reinsurance) organizations, in the presence of the relevant agreement with the insurer (assignor);

10) placement of insurance risks according to insurance contracts (reinsurance) or from insurance, at the request of clients;

11) ensuring the correct and timely document creation in case of the conclusion of the insurance contract (reinsurance), implementation of insurance payment, consideration of claims in case of loss occurrence, and also other documents connected with the signed insurance contracts (reinsurance);

12) carrying out consultations and rendering assistance in obtaining by the insurer (assignor), beneficiary of insurance payment in case of loss occurrence;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info