FEDERAL LAW OF THE RUSSIAN FEDERATION

of July 23, 2013 No. 234-FZ

About introduction of amendments to the Law of the Russian Federation "About the organization of insurance case in the Russian Federation"

Accepted by the State Duma of the Russian Federation on July 5, 2013

Approved by Council of the Russian Federation on July 10, 2013

Article 1

Bring in the Law of the Russian Federation of November 27, 1992 No. 4015-1 "About the organization of insurance case in the Russian Federation" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, No. 2, Art. 56; Russian Federation Code, 1998, No. 1, Art. 4; 1999, No. 47, Art. 5622; 2002, No. 12, Art. 1093; No. 18, Art. 1721; 2003, No. 50, Art. 4855, 4858; 2004, No. 30, Art. 3085; 2005, No. 10, Art. 760; No. 30, Art. 3101, 3115; 2007, No. 22, Art. 2563; No. 46, Art. 5552; No. 49, Art. 6048; 2009, No. 44, Art. 5172; 2010, No. 17, Art. 1988; No. 31, Art. 4195; No. 49, Art. 6409; 2011, No. 30, Art. 4584; No. 49, Art. 7040; 2012, No. 53, Art. 7592; Russian newspaper, 2013, on July 2) following changes:

1) in Article 1:

a) in Item 1 "state" to exclude the word;

b) state Item 2 in the following edition:

"2. The relations specified in Item 1 of this Article are regulated by also Federal Laws and regulations of the Central bank of the Russian Federation (further - the Bank of Russia), and in the cases provided by the Federal Laws adopted according to them regulatory legal acts of the Russian Federation (further - regulatory legal acts).";

c) in Item 3 of the word "and other regulatory legal acts" shall be replaced with words ", other regulatory legal acts and regulations of the Bank of Russia";

2) in Item 2 of Article 2 of the word"," to exclude insurance actuaries;

3) in Item 3 of Article 3:

words "refusal cases" shall be replaced with words "the term of implementation of insurance payment, and also the exhaustive list of the bases of refusal";

add with paragraphs of the following content:

"Rules of insurance (except for the rules of insurance accepted within the international systems of civil responsibility insurance of owners of vehicles which the Russian Federation joined) also shall contain exhaustive list of the data and documents necessary for the conclusion of insurance contracts, assessment of insurance risks, determinations of the size of losses or damage, and, besides, terms and procedure for decision making about implementation of insurance payment, and for life insurance contracts also procedure of payments of the redemption amount and charge of investment revenue if the agreement provides participation of the insurer or the other person for benefit of which the life insurance contract, in investment revenue of the insurer is signed.

The Bank of Russia has the right to determine the minimum (standard) requirements to conditions and procedure of separate types of voluntary insurance in the regulations.

According to requirements of insurers, insured persons, beneficiaries, and also persons having intention to sign the insurance contract, insurers shall explain the provisions containing in rules of insurance and insurance contracts, to provide information on amount of remuneration, paid to insurance agent, insurance broker on compulsory insurance, change calculations during the term of the agreement insurance of insurance sum, calculations of insurance payment or the redemption amount (if such conditions are provided by the life insurance contract), information on methods of charge and on change of the size of investment revenue on the life insurance contracts signed with condition of participation of the insurer or the other person for benefit of which the life insurance contract, in investment revenue of the insurer is signed.";

Article 4 to state 4) in the following edition:

"Article 4. Objects of insurance

1. The valuable interests connected with survival of citizens to certain age or term or approach of other events in life of citizens and also with their death (life insurance) can be objects of life insurance.

2. The valuable interests connected with damnification to health of citizens and also with their accidental death or diseases (accidents insurance and diseases) can be objects of accidents insurance and diseases.

3. The valuable interests connected with payment of the organization and rendering the medical and medicinal care (medical services) and other services owing to the disorder of health of physical person or condition of physical person requiring the organization and rendering such services and also the holding the preventive actions reducing degree life-threatening or health of physical person of threats and (or) eliminating their (medical insurance) can be objects of medical insurance.

4. The valuable interests connected with risk of loss (death), shortage or damage of property (proprietary insurance) can be objects of proprietary insurance.

The valuable interests of the insurer (insured person) connected with risk of non receipt of the income, emergence of contingencies of physical persons, legal entities (financial risks insurance) can be objects of financial risks insurance in property insurance.

5. The valuable interests connected with risk of emergence of losses from business activity because of violation of the obligations by partners of the entrepreneur or change of conditions of these activities for circumstances, independent of the entrepreneur, including with risk of non receipt of the expected income (insurance of entrepreneurial risks) can be objects of insurance of entrepreneurial risks.

6. The valuable interests connected with can be objects of civil responsibility insurance:

1) risk of approach of responsibility for damnification of life, to health or property of citizens, property of legal entities, municipalities, subjects of the Russian Federation or the Russian Federation;

2) risk of approach of responsibility for violation of the agreement.

7. The objects specified in Items 1 - 3 these Articles, belong to personal insurance, the objects specified in items 4 - the 6th this Article, belong to property insurance.

8. If other is not established by the Federal Law, when implementing insurance the combination of the objects relating to the different types of property insurance provided by items 4 - the 6th this Article, and personal insurance, provided by Items 2 and 3 of this Article, or only the objects of personal insurance provided by Items 1 - 3 these articles (comprehensive insurance) is allowed.";

5) in Article 4.1:

a) in Item 1:

add subitem 2 with words ", including the reinsurance organizations";

in subitem 6 to exclude the word "insurance";

state subitem 7 in the following edition:

"7) the Bank of Russia performing functions on regulation, control and supervision in the field of insurance activity (insurance case) (further - body of insurance supervision);";

add with the subitem 9 of the following content:

"9) specialized depositaries.";

b) in Item 2:

word in paragraph one", insurance brokers and insurance actuaries" shall be replaced with words "and insurance brokers";

in the paragraph the second words", except for activities of insurance actuaries who are subject to certification" to exclude;

add with paragraphs of the following content:

"The unified state register of subjects of insurance case shall contain the information about the subject of insurance case, its name, the location, the head, participants (shareholders), about number, date of issue, license effective period, type of insurance activity on which implementation the license, types of insurance which are performed within the corresponding type of insurance activity (for insurance companies and societies of mutual insurance), domain name and (or) the network address of the official site of the subject of insurance case in the Internet, branches and representative offices of the insurer and about their location, about decision making about suspension, renewal of action of the license or about withdrawal (cancellation) of the license, the reason and date of exception of the unified state register of subjects of insurance case is granted.

In case of change of information about the subject of insurance case the relevant information is subject to entering into the unified state register of subjects of insurance case no later than five working days from the date of change of the specified data.";

6) in Article 6:

a) state Item 1 in the following edition:

"1. Insurers - the insurance companies and societies of mutual insurance created in accordance with the legislation of the Russian Federation for implementation of activities for insurance, reinsurance, mutual insurance and which obtained licenses for implementation of the corresponding type of insurance activity in the procedure established by this Law. The insurance companies performing only activities for reinsurance are the reinsurance organizations.";

b) in Item 2:

in the paragraph the second "Item 1" shall be replaced with words words "Items 1 - 3", "Item 2 and the subitem 2 of Item 1" shall be replaced with words words "Items 2 - 6";

add with paragraphs of the following content:

"Following the results of each accounting year activities of insurance company, society of mutual insurance are subject to obligatory actuarial estimation by the responsible actuary. The actuarial conclusion prepared following the results of obligatory actuarial estimation is submitted the insurer in body of insurance supervision together with annual accounting (financial) accounts.

Insurers shall keep the isolated expense accounting by types of compulsory insurance according to the procedure, established by body of insurance supervision.";

c) state Item 3 in the following edition:

"3. The insurance companies which are subsidiaries in relation to foreign investors (the main organizations) or having share of foreign investors in the authorized capital more than 49 percent cannot perform in the Russian Federation life insurance, health and property of citizens at the expense of the funds allocated for these purposes from the relevant budget to federal executive bodies (insurers), the insurance connected with implementation of purchases of goods, works, services for ensuring the state and municipal needs and also insurance of valuable interests of the state organizations and municipal organizations.

The insurance companies which are subsidiaries in relation to foreign investors (the main organizations) or having share of foreign investors in the authorized capital more than 51 percent cannot perform in the Russian Federation the types of insurance specified in paragraph one of this Item and also insurance of objects of personal insurance, stipulated in Item 1 article 4 of this Law, and obligatory civil liability insurance of owners of vehicles.

For the purpose of this Law foreign investors the foreign organizations having the right to perform according to the procedure and on conditions which are established by the legislation of the Russian Federation, investments in the territory of the Russian Federation into the authorized capital of the insurance company created or newly created in the territory of the Russian Federation are recognized.

If the amount (quota) of participation of the foreign capital in the authorized capital of insurance companies exceeds 50 percent, the body of insurance supervision stops issue of licenses for implementation of insurance activity to the insurance companies which are subsidiaries in relation to foreign investors (the main organizations) or having share of foreign investors in the authorized capital more than 49 percent.

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