RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of May 30, 2016 No. 140

About approval of Rules of calculation and application of coefficient on the bonus-malus system for calculation of insurance premium for compulsory insurance of civil responsibility of owners of vehicles

According to the Law of the Republic of Kazakhstan "About compulsory insurance of civil responsibility of owners of vehicles" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve Rules of calculation and application of coefficient on the bonus-malus system for calculation of insurance premium for compulsory insurance of civil responsibility of owners of vehicles.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan, and also structural elements of some regulatory legal acts of the Republic of Kazakhstan according to the list according to appendix to this resolution.

3. To department of methodology of the financial market (Abdrakhmanov N. A.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) the direction of this resolution in the republican state company on the right of economic maintaining "The republican center of legal information of the Ministry of Justice of the Republic of Kazakhstan":

on official publication in information system of law of Ad_let within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan;

for inclusion in the State register of regulatory legal acts of the Republic of Kazakhstan, Reference control bank of regulatory legal acts of the Republic of Kazakhstan within five working days from the date of its obtaining by National Bank of the Republic of Kazakhstan after state registration in the Ministry of Justice of the Republic of Kazakhstan;

3) placement of this resolution on Internet resource of National Bank of the Republic of Kazakhstan after its official publication.

4. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide the direction of this resolution on official publication in mass media within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

6. This resolution becomes effective after ten calendar days after day of its first official publication.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of May 30, 2016 No. 140

Rules of calculation and application of coefficient on the bonus-malus system for calculation of insurance premium for compulsory insurance of civil responsibility of owners of vehicles

1. These rules of calculation and application of coefficient for the bonus-malus system (further – Rules) are developed for calculation of insurance premium for compulsory insurance of civil responsibility of owners of vehicles according to subitem 18-2) of article 43 of the Law of the Republic of Kazakhstan "About insurance activity" (further – the Law) and Item 10 of article 19 of the Law of the Republic of Kazakhstan "About compulsory insurance of civil responsibility of owners of vehicles" (further – the Law on compulsory liability insurance of owners of vehicles) and determine procedure of payments and applications of coefficient by the bonus-malus system for calculation of insurance premium for compulsory insurance of civil responsibility of owners of vehicles (further – compulsory liability insurance of owners of vehicles).

The concepts and terms used in Rules are applied in the values specified in the Law and the Law on compulsory liability insurance of owners of vehicles.

For the purposes of establishment of coefficients on the bonus-malus system (further – coefficient), physical resident person of the Republic of Kazakhstan is recognized person, nationality and (or) the identity of which in case of the conclusion of the agreement of compulsory liability insurance of owners of vehicles (further – the agreement of compulsory insurance) proves to be true and makes sure the following documents:

1) identity certificate of the citizen of the Republic of Kazakhstan;

2) passport of the citizen of the Republic of Kazakhstan;

3) the certificate of birth in the Republic of Kazakhstan;

4) the residence permit of the foreigner in the Republic of Kazakhstan;

5) certificate of the stateless person.

2. Coefficients are established and the corresponding classes are appropriated to the insurer (insured) in case of the conclusion of the agreement of compulsory insurance (further – class) according to appendix to Rules.

The basis for application of coefficients by the insurer is information on insured event (insured events), or lack of information on insured event (insured events), the event which (took place) because of the insurer (insured), and also other information provided by Rules, received by the insurer from the single database on insurance (further – the database) and (or) the state databases by means of the database.

3. In case of assignment of class (insured) accounting is subject to the insurer the insured event (insured events) which occurred (occurred) through his fault, and also days during which civil responsibility of the insurer (insured) on agreement compulsory insurance was insured, from the date of the previous change of class, regardless of the number of the signed agreements of compulsory insurance, and other information provided by Rules (are subject).

The loss occurrence (insured events), the event which (took place) because of the insurer (insured), attracts decrease in class of the insurer (insured) according to appendix to Rules, taking into account the requirements established by Items 6, of 9, of 10, of 11, of 12 and 13 Rules. At the same time the most minimum class is the class M2.

Change of class on higher class is performed in case of simultaneous accomplishment of the following conditions:

absence in the organization performing forming and maintaining the database, information on insured event (insured events), the event which (took place) because of the insurer (insured) and considered (considered) in the database from the moment of the last change of class;

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