RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of September 13, 2023 No. 473

About approval of acts in the field of compulsory insurance of premises from the fire and natural disasters

For the purpose of implementation of Articles 7, of 12, 13 and 19 Laws of the Kyrgyz Republic "About compulsory insurance of premises from the fire and natural disasters", according to articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Approve:

- Rules of compulsory insurance of premises from the fire and natural disasters according to appendix 1;

- the minimum sizes of insurance sum and rate of insurance premium on compulsory insurance of premises from the fire and natural disasters according to appendix 2;

- Method of calculation of the amount of insurance indemnity on compulsory insurance of premises from the fire and natural disasters according to appendix 3;

- Regulations on procedure for information exchange of state bodies and other organizations in system of compulsory insurance of premises from the fire and natural disasters according to appendix 4.

2. Declare invalid the order of the Government of the Kyrgyz Republic "About approval of acts in the field of compulsory insurance of premises from the fire and natural disasters" of February 2, 2016 No. 49.

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

Appendix 1

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of September 13, 2023 No. 473

Rules of compulsory insurance of premises from the fire and natural disasters

1. General provisions

1. These rules of compulsory insurance of premises from the fire and natural disasters (further - Rules) are developed according to the Law of the Kyrgyz Republic "About compulsory insurance of premises from the fire and natural disasters" (further - the Law) and determine procedure for realization of the rights and obligations of the Parties by the agreement of compulsory insurance of premises from the fire and natural disasters (further - the agreement of compulsory insurance (insurance policy).

2. When implementing compulsory insurance of premises from the fire and natural disasters the insurer shall for the payment caused by the agreement of compulsory insurance in case of loss occurrence to perform the insurance indemnity defined by the agreement of compulsory insurance.

3. The risk of destruction or damage of premises of the insurer as a result of the fire and/or natural disaster is subject to compulsory insurance.

4. Subjects of legal relationship on compulsory insurance are:

- insurer;

- insurers;

- beneficiaries.

5. The concepts used in these rules:

1) the insurer - the legal entity having the license for implementation of compulsory insurance in the territory of the Kyrgyz Republic;

2) the insurer - the legal or capable physical person which signed the agreement of compulsory insurance (insurance policy) with the insurer;

3) the beneficiary - person who is the owner of premises, either the heir of the owner, or the legal successor;

4) the beneficial owner - physical person (physical persons) which finally (through chain of ownership and control) directly or indirectly (through the third parties) owns the property right or controls the client or the physical person, from name or for the benefit of which transaction (transaction) is made;

The agreement of compulsory insurance of premises (insurance policy) - the insurance contract according to which the insurer shall for the payment (insurance premium) caused by the agreement in case of approach of the event (insured event) provided in the agreement to compensate 5) to the insurer or the beneficiary caused thereof events damage to premises (to pay insurance indemnity) within the amount (insurance sum) defined by the agreement;

6) premises - the separate unit of housing stock which is in private property of physical persons or legal entities (the individual apartment house, part of the individual apartment house, the apartment in the apartment house, the communal flat, the room in the communal flat, the room in houses of specialized housing stock, hotel, the apartment house of hotel type), intended and used for permanent or temporary residence, meeting the technical, health and other mandatory requirements established by the civil legislation of the Kyrgyz Republic.

If on one parcel of land there are several premises which belong to one owner, then these premises in total constitute one unit of the real estate. At the request of the owner this unit of the real estate can be divided into several units and are insured separately;

7) use of premises - operation of premises;

8) the independent expert - the uninterested physical person or legal entity involved by the participant of compulsory insurance (the insurer, the insurer, the beneficiary) for establishment of the reasons and circumstances of loss occurrence and evaluating the extent of damage caused to premises as a result of the insurance event provided by these rules and giving on this basis of the conclusion;

9) the fire - the uncontrollable process of burning causing material damage to premises;

10) natural disaster - the natural phenomenon having extreme character and leading to damage and (or) destruction of premises;

11) insurance premium - the payment caused by the agreement which the insurer shall pay to the insurer according to the procedure and the terms established by the agreement of compulsory insurance (insurance policy);

12) insurance sum - the amount within which the insurer shall pay insurance indemnity under the agreement of compulsory insurance;

13) insurance indemnity - the amount paid by the insurer under the agreement of compulsory insurance in damage covering in case of loss occurrence;

14) insured event - the accomplished fact which entailed destruction or damage of premises of the insurer as a result of direct impact on object of insurance with which approach there is obligation of the insurer to make the insurance indemnity provided by these rules and the insurance contract (insurance policy);

15) insurance risk - expected event on which case of approach insurance is led;

16) insurance rates - the price rates established by the Cabinet of Ministers of the Kyrgyz Republic, applied by insurers in case of determination of insurance premium under the agreement of compulsory insurance;

17) insurance pool on compulsory insurance of premises from the fire and natural disasters (further - insurance pool) - merging of the insurers, not being the legal entity and created for the purpose of program implementation of compulsory insurance of premises from the fire and natural disasters, acting on the basis of the Regulations on insurance pool;

18) the unconditional insurance franchize - part of losses which is defined by the agreement of compulsory insurance and is not subject to compensation by the insurer to the insurer or the beneficiary whose interest is insured in accordance with the terms of the agreement of compulsory insurance, and is established in the form of certain percent from insurance sum.

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