Compulsory TPL insurance of motor vehicles owners

The Insurance is carried out according to the Law of the Republic of Kazakhstan of 1 July 2003 No 446-II “On Compulsory Third Party Liability Insurance of the Motor Vehicles Owners”.

 

The purpose of compulsory third party liability insurance of the motor vehicles owners is providing property interests protection of third parties, whose life, health and(or) property were damaged in a result of motor vehicles exploitation, by means of indemnity payment.

 

Object of insurance is property interest of insured person connected with his liability established by civil legislation of the Republic of Kazakhstan to reimburse damage incurred to life, health and(or) property of third parties in a result of exploitation of the motor vehicles as a source of increased danger.

 

Insurance event is a fact of occurrence of third party liability of Assured to reimburse damage incurred to life, health and(or) property of persons considered as injured in a result of exploitation by the Assured of the motor vehicle indicated in the agreement of third party liability insurance of motor vehicles owners.

 

Territory of insurance – Republic of Kazakhstan.

 

Insurance premium amount is established by the Law on compulsory insurance and depends on the place of motor vehicle registration, type of the motor vehicle, age and driving experience of Insured (Assured), term of the motor vehicle exploitation and the presence or absence of insurance events by the fault of persons, whose third party liability is insured (“bonus-malus” system).

 

At TPL insurance of natural person who is an owner of two or more motor vehicle units (complex insurance), the amount of insurance premium is estimated as equal to the largest of insurance premium amounts established for motor vehicles indicated in the insurance policy.

 

Discounts are given in amount of 50% to the veterans of the Great Patriotic War and persons equal to them, disabled of I and II groups, pensioners.

 

If a motor vehicle is exploited also by other owners, not belonging to the category of persons indicated in the first part of the present point, then the compulsory liability insurance of motor vehicle owners is carried out without provision of such benefit.

 

Insurance indemnity is paid within fifteen working days after submission of all necessary documents confirming the fault of Assured and estimation of the loss amount. The indemnity amount is estimated in MCI.

 

The maximum liability limit of Insurer per one insurance event (sum insured) is (in monthly calculated indices):

 

• For the damage incurred to life or health of injured and which caused:
  • death 1000;
  • ascertainment of disability
    I group – 800,
    II group – 600,
    III group – 500;
    «category “child-disabled” » 500;
  • mutilation, trauma or other health injury without the ascertainment of disability – in amount of actual costs for ambulatory and (or) hospital treatment, but not more than 300. In this case the insurance indemnity amount per every day of hospital treatment should be not less than 10 monthly calculated indices;
• for damage incurred to the property of one injured, - in amount of incurred damage, but not more than 600;
• for damage incurred simultaneously to the property of two or more injured, - in amount of incurred damage, but not more than 600 per each injured. In this case the total amount of insurance indemnity per all injureds can not exceed 2000. In case of excess of the amount of damage over the maximum liability of Insurer, the insurance indemnity to each injured is paid pro rata to the degree of damage incurred to his property.

 

The amount of damage, incurred to the life and health of injured is estimated on the basis of documents issued by the corresponding organizations.

 

The amount of damage, incurred at property deterioration is estimated proceeding from the cost of restoration of the damaged property minus the accrued amortization (depreciation) of property which took place before the insurance event occurrence.

 

The cost of restoration of the damaged property is calculated proceeding from the market prices, active on the day of insurance event occurrence.