LAW OF UKRAINE

of November 16, 2006 No. 357-V

About introduction of amendments to the Law of Ukraine "About insurance"

The Verkhovna Rada of Ukraine decides:

I. Bring in the Law of Ukraine "About insurance" (Sheets of the Verkhovna Rada of Ukraine, 2002, No. 7, Art. 50; 2005, No. 37, Art. 447) following changes:

1. In Article 2:

1) the last offer of part one to exclude;

To add 2) after part one with new part of the following content:

"It is forbidden to perform insurance activity in the territory of Ukraine non-resident insurers, except such types of insurance activity:

only on risks insurance, connected with maritime transports, commercial aircraft, start of space rockets and the freight (including satellites) if object of insurance are the valuable interests connected with goods which are transported, and/or the vehicle by which they are transported, and/or any responsibility arising in connection with it transportation of goods;

reinsurance;

insurance mediation, such as broker and agency transactions on: reinsurance, it is exclusive with risks insurance, connected with maritime transports, commercial aircraft, start of space rockets and the freight (including satellites) if object of insurance are the valuable interests connected with goods which are transported, and/or the vehicle by which they are transported, and/or any responsibility arising in connection with such transportation of goods;

support services in insurance, such as consulting services, assessment of actuarial risk and satisfaction of claims".

With respect thereto the second - the thirteenth to consider parts respectively parts three - the fourteenth;

To add 3) after part eleven with new part of the following content:

"The non-resident insurer has the right to perform insurance activity in Ukraine under following conditions:

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