of August 4, 2008 No. 189
About obligatory civil liability insurance of carrier before passengers
Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 20, 2008
This Law governs the relations arising in the field of obligatory civil liability insurance of carrier before passengers and establishes legal, financial and organizational basis of its carrying out.
In this Law the following basic concepts are used:
the insurer - the citizen or the legal entity who signed the insurance contract with insurance company (insurer);
the insurer - the legal entity (insurance organization), the license for the implementation of insurance of the corresponding type which is the commercial organization and having;
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 insurance contract;
insurance rates - the rates developed by the insurer and applied by him in case of determination of the size of the insurance premium which is subject to payment according to the insurance contract;
insurance sum - the amount within which the insurer shall pay insurance indemnity under the agreement of property insurance or which it shall pay under the agreement of personal insurance;
insurance indemnity - the amount paid by the insurer according to the insurance contract in damage covering in case of loss occurrence;
insured event - the accomplished fact provided by the insurance contract or the law with which approach there is obligation of the insurer to make insurance payment to the insurer, insured person or beneficiary;
insurance risk - expected event on which case of approach insurance is led;
insurance premiums - the insurance premium which is periodically brought to the insurer by the insurer in accordance with the terms of the insurance contract;
insurance reserves - the special cash funds created by insurers of the received insurance premiums on types of insurance for the purpose of ensuring accomplishment of the insurance bonds assumed by them;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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