Article 7. Content of insurance classes of the Insurance Law

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1. Life insurance is a set of types of insurance that provide for insurance payments in cases of death of the insured or his survival until the end of the insurance period or the age specified in the insurance contract, with the exception of the type of insurance specified in paragraph 2-3 of this Article.

2. Annuity insurance is a set of types of accumulative insurance that provide for periodic insurance payments in the form of periodic payments to the beneficiary during the period specified in the contract, with the exception of the type of insurance specified in paragraph 2-4 of this article.

2-1. Excluded by the Law of the Republic of Kazakhstan dated 07/15/2010 No. 338-IV (for the procedure of entry into force, see art. 2). 2-2. Excluded by the Law of the Republic of Kazakhstan dated 07/15/2010 No. 338-IV (for the procedure of entry into force, see art. 2).

2-3. Life insurance within the framework of the state educational accumulative system is a type of insurance that provides for insurance payments in cases of death of the policyholder or disability due to disability of the first or second group or their survival until the end of the insurance period in accordance with the Law of the Republic of Kazakhstan "On the State Educational Accumulative System".

2-4. Pension annuity insurance is a type of cumulative insurance that provides for periodic insurance payments in accordance with the Social Code of the Republic of Kazakhstan.

3. Accident insurance is a set of types of insurance that provide for insurance payments in a fixed amount and (or) in the amount of partial or full compensation for the insured's expenses in cases of death, loss (full or partial) of working capacity (general or professional) or other harm to the insured's health as a result of an accident, occupational disease, with the exception of insurance of risks related to illness and (or) other health disorder.

An accident is defined as a sudden, short-term event (incident) that occurs against the will of a person as a result of external mechanical, electrical, chemical or thermal effects on the insured's body, resulting in harm to health, injury or death.

4. Sickness insurance is a set of types of insurance that provide for insurance payments in a fixed amount and (or) in the amount of partial or full compensation for the insured's expenses related to illness and other health disorders, including expenses related to death resulting from illness and (or) other health disorders..

5. Insurance of means of transport listed in subitems 3) - 6) of paragraph 3 of Article 6 of this Law is a set of types of insurance providing insurance payments in the amount of partial or full compensation for damage caused to the property interests of a person related to the possession, use, disposal of a means of transport, including theft or theft, and also due to its damage or destruction.

5-1. Space object insurance is a set of types of insurance that provide for insurance payments in the amount of partial or full compensation for damage caused to the property interests of a person related to the possession, use, and disposal of a space object as a result of its damage or destruction.

6. Cargo insurance is a set of types of insurance providing for insurance payments in the amount of partial or full compensation for damage caused to the property interests of a person related to the possession, use, and disposal of cargo, including baggage, goods, and all other types of products as a result of their damage, destruction, or loss, regardless of the method of transportation.

7. Property insurance is a set of types of insurance providing for insurance payments in the amount of partial or full compensation for damage caused to the property interests of a person related to the possession, use, disposal of property as a result of its damage or destruction, theft, with the exception of property listed in subitems 3) - 7) of paragraph 3 of Article 6 of this Code. The law.

8. The insurance of civil liability of owners of means of transport provided for in subitems 9), 10) and 11) of paragraph 3 of Article 6 of this Law is a set of types of insurance providing insurance payments to third parties in the amount of partial or full compensation for damage caused by a person obliged to compensate him as a result of using a vehicle., including the civil liability of the carrier.

8-1. Civil liability insurance for owners of space objects is a set of types of insurance that provide for insurance payments to third parties in the amount of partial or full compensation for damage caused by a person who is obliged to compensate him in connection with his use of a space object.

8-2. Professional liability insurance is a type of civil liability insurance that provides for insurance payments in the amount of partial or full compensation for damage caused to third parties as a result of erroneous actions (inaction) and (or) omissions in the process or as a result of professional activities carried out on the basis of a special permit (license, notice) and (or) requiring special knowledge, experience and (or) qualifications.

9. Civil liability insurance is a set of types of insurance that provide insurance payments to third parties in the amount of partial or full compensation for damage caused by the policyholder, who is obliged to compensate for it, as a result of insurance of all risks, with the exception of risks covered by the insurance classes specified in the sub-paragraphs 9), 10), 11), 11-1) and 11-2) of paragraph 3 of Article 6 of this Law.

10. Loan insurance for legal entities is a set of types of insurance that provide for insurance payments in case of losses to the lender as a result of non-fulfillment by the policyholder (borrower-legal entity) of obligations to the lender.

11. Mortgage insurance is a type of insurance that provides for insurance payments in the amount of partial or full compensation for damage caused to the lender's property interests as a result of the borrower's failure to fulfill obligations under the housing mortgage loan agreement, after the sale of collateral under the housing mortgage loan.

12. Insurance of guarantees and sureties is a set of types of insurance that provide for insurance payments in the amount of partial or full compensation for damage caused to the property interests of the person who issued the guarantee or surety as a result of his obligation to fulfill the issued guarantee or surety.

13. Insurance against other financial losses is a set of types of insurance that provide for insurance payments in case of losses resulting from loss of work, loss of income, adverse natural events, continuous, unforeseen expenses, loss of market value and other losses resulting from financial and economic activities, with the exception of insurance risks specified in subitems 12) - 15) paragraph 3 of Article 6 of this Law.

14. Insurance of court costs is a set of types of insurance that provide for insurance payments in case of losses of the policyholder (insured) as a result of expenses incurred by him in connection with the court proceedings.

15. Under the risk insurance contracts specified in paragraphs 11-13 of this article, the risk may be insured only by the policyholder himself and only for his benefit.

16. Loss insurance of financial organizations is a set of types of insurance providing for insurance payments in the amount of partial or full compensation for losses resulting from the provision of financial services by a financial organization, with the exception of the classes specified in subparagraphs 13), 14), 15) and 16) of paragraph 3 of Article 6 of this Law.

17. Title insurance is a set of types of insurance that provide for insurance payments in the amount of partial or full compensation for damage caused to the property interests of the policyholder in the event of termination of ownership of the property.

The Law of the Republic of Kazakhstan dated December 18, 2000 No. 126.

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