Advanced Search

The Rules On Insurance Broker Company Civil Liability Insurance

Original Language Title: Noteikumi par apdrošināšanas brokeru sabiedrības civiltiesiskās atbildības apdrošināšanu

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
The Cabinet of Ministers of the Republic of Latvia, 1998 November 24 Regulation No 442 (in Riga. No. 63, § 15.) the rules on the insurance brokerage firm of liability insurance Issued pursuant to the insurance companies and their supervisory law 84. the second paragraph of article 1 these rules determine the order in which the insurance brokerage company insured civil liability (civil liability).
2. insurance brokerage company insures its civil liability for possible damages, which it, providing the insurance intermediary, with his action or omission is prejudicial to policyholders, insurers or other parties.
3. Liability insurance in the minimum limit is double signed total insurance premiums for insurance contracts with the insurance brokerage company, through the conclusion of the previous year, and it can not be less than 200 000 lats.
4. Civil liability insurance contract may not provide insurance brokerage companies should.
5. Civil liability insurance contract to be in condition for an extended period of notification, which provides for the conclusion of insurance contracts to cover losses if the insurance brokerage company extended the period of notice is applied for damages caused by the event.
6. Extended reporting period is at least three years after the insurance contract expiration.
7. insurance against civil liability in respect of the conclusion of the contract or early termination and all the changes associated with this contract, the insurance brokerage company within ten working days notify the insurance supervisory authorities.
 
Prime Minister g. shore Finance Minister r. tit