On Introducing Changes And Additions Into The Law Of The Russian Federation "on The Organization Of Insurance Business In The Russian Federation" And Repealing Certain Legislative Acts Of The Russian Federation

Original Language Title: О внесении изменений и дополнений в Закон Российской Федерации "Об организации страхового дела в Российской Федерации" и признании утратившими силу некоторых законодательных актов Российской Федерации

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RUSSIAN FEDERATION FEDERAL LAW on amendments and additions to the law of the Russian Federation "on the Organization of insurance business in the Russian Federation" and repealing certain acts adopted by the State Duma of the Russian Federation November 19, 2003 the year approved by the Federation Council November 26, 2003 year (as amended by the federal laws from 07.03.2005 N 12-FZ;
from 30.06.2007 N 119-FZ; from 29.11.2007 N 287-FZ;
from 01.12.2007 N 306-FZ; from Dec 25th N 267-FZ;
from arrival N 234-FZ) Article 1 amend the law of the Russian Federation dated November 27, 1992 N 4015-(I) on the Organization of insurance business in the Russian Federation "(records of the Congress of people's deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1993, N 2, p. 56; collection of laws of the Russian Federation, 1998, N 1, p. 4; 1999, N 47, art. 5622; 2002, N 12, art. 1093; N 18, art. 1721) the following amendments and supplements: 1) articles 1, 2, 3 and 4 shall be amended as follows: article 1. Relations regulated by this Law 1. This law governs the relations between persons engaged in activities in the field of insurance, or with their participation, relations on execution of State supervision over the activities of entities of the insurance business, as well as other relations related to the Organization of insurance business.
2. Relationship referred to in paragraph 1 of this article, are also regulated by federal laws, decrees of the President of the Russian Federation, decisions of the Government of the Russian Federation, adopted in accordance with this law.
In cases stipulated by this law, federal bodies of executive power within the limits of its competence, may accept normative acts.
3. For the purposes of this Act, federal laws and other regulatory legal acts envisaged in paragraphs 1 and 2 of this article, are an integral part of the insurance legislation.
4. This law shall apply to compulsory insurance relationships in the legal framework regulating these relations.
Article 2. Insurance and insurance activities (insurance) 1. Insurance-to protect the interests of natural or legal persons, the Russian Federation, constituent entities of the Russian Federation and municipal entities upon the occurrence of certain insurance cases through funds generated from premiums paid by insurers (premiums), as well as from other funds of insurers.
2. Insurance (insurance business) activity of insurers on insurance, reinsurance, mutual insurance as well as insurance brokers, insurance Actuaries for services associated with insurance, reinsurance.
Article 3. Purpose and objectives of the Organization of insurance business. Forms of insurance 1. The purpose of the organization is to provide insurance protection of property interests of natural and legal persons of the Russian Federation, constituent entities of the Russian Federation and municipal entities when insurance cases.
The Organization of insurance business are: the implementation of a uniform State policy in the field of insurance;
establish the principles of insurance and the formation of insurance mechanisms to ensure economic security for citizens and businesses on the territory of the Russian Federation.
2. Insurance is available in the form of voluntary insurance and compulsory insurance.
3. Voluntary insurance is performed on the basis of the insurance contract and insurance rules that define the general terms and conditions and the procedure for its implementation. Rules of insurance are accepted and approved by the insurer, or insurers Association independently in accordance with the Civil Code of the Russian Federation and the present law and contain provisions about insurance, about the objects of insurance, the insurance cases, about insurance risks on the manner of determining the sum insured, the insurance tariff, insurance premiums (insurance premiums), on the order of conclusion, implementation and termination of insurance contracts, the rights and obligations of the parties, on the determination of the amount of loss or damage , on the manner of determining the indemnity on cases of denial of insurance payment and other provisions.
4. The conditions and procedures for the implementation of compulsory insurance are determined by federal laws on specific types of compulsory insurance. Federal law on the specific form of compulsory insurance must contain provisions defining: a) the subjects of insurance;
b) objects to be insured;
list of insurance cases);
g) minimum amount of sum insured or its definition;
d) size, structure, or procedure for determining the insurance tariff;
e) terms and procedure of payment of insurance premium (insurance premiums);
f) period of validity of the insurance contract;
w) procedure for determining the amount of the insurance payments;
and monitoring of insurance);
the) consequences of non-performance or improper performance of the subjects of insurance;
l) other provisions.
Article 4. Objects of insurance 1. Personal insurance objects can be property interests related: 1) with survival occurs citizens under a certain age or length, with death, with the occurrence of other events in the lives of citizens (life insurance);

2) infliction of harm to life and health of citizens, providing them with medical services (insurance against accidents and illnesses, medical insurance).
2. Objects of property insurance can be property interests related, inter alia, to: 1) ownership, use and disposal of property (property insurance);
2) duty to compensate others harm (liability insurance);
3) entrepreneurial activity (insurance business risks).
3. illegal Insurance interests as well as interests that are not wrongful, but insurance which is prohibited by law, is not allowed.
4. If Federal law provides otherwise, permitted insurance of objects belonging to different types of property insurance and (or) personal insurance (combination of insurance).
5. insurance on the territory of the Russian Federation (except for reinsurance) interests of legal entities and natural persons-residents of the Russian Federation may only be carried out by insurers with licenses obtained in the manner prescribed by this law. ";
2) supplement article 4-1 to read as follows: "article 4-1. Participants in relations regulated by the present law 1. Parties of relations regulated by the present law are: 1) the policyholders, insured persons, beneficiaries;
2) insurance companies;
3) mutual insurance society;
4) insurance agents;
5) insurance brokers;
6) insurance Actuaries;
7) Federal Executive authority whose jurisdiction applies to the exercise of State supervision over the insurance business entities (hereinafter referred to as the insurance supervisory authority).
2. Insurance companies, mutual insurance, insurance brokers and insurance Actuaries are subjects of the insurance business.
Subjects of insurance business activities subject to licensing, with the exception of insurance Actuaries, which are subject to certification.
Information about the subjects of insurance are subject to inclusion in the unified State Register of insurance business in the manner prescribed by the insurance supervisory authority.
3. the name (business name) of the subject of the insurance business-legal entity should contain words that indicate ongoing activity: "insurance", "reinsurance", "mutual insurance", "insurance broker" or derived from such words and phrases.
The subject of the insurance business is a legal person shall not be entitled to use the full or short name (brand name), repeating in part or in whole name (brand name), another subject of the insurance business. This provision does not apply to subsidiaries and dependent companies of insurance business subject. ";
3) in article 6: (a) paragraphs 1 and 2) worded as follows: "1. insurers are legal entities established in accordance with the legislation of the Russian Federation to implement the insurance, reinsurance, mutual insurance and licensed in accordance with the provisions of this law.
2. the insurer shall carry out an assessment of the insured risk, receive insurance premiums (insurance premiums), form the insurance reserves, invest assets, determine the size of the loss or damage, make insurance payments, carry out other related to performance of obligations under the insurance contract validity.
Insurers are entitled to exercise, or just the insurance of private insurance under paragraph 1 of article 4 of this law, or only the insurance of property and personal insurance, provided for respectively paragraph 2 and subparagraph 2 of paragraph 1 of article 4 of this Act. ";
b) in paragraph 3: in the first paragraph, the words "life insurance" should be replaced by the words "insurance of personal insurance, under subparagraph 1 of paragraph 1 of article 4 of this Act";
to complement the new second paragraph to read as follows: "for the purposes of this Act, foreign investors admit foreign organizations having the right to exercise in the manner and under the conditions established by the legislation of the Russian Federation, investments in the territory of the Russian Federation in the share capital of an insurance company, established or newly established on the territory of the Russian Federation.";
second paragraph take the third subparagraph and the words "15 per cent" replaced by "25 per cent", the words "the Federal Executive Body in the field of supervision of insurance activities" were replaced by the words "insurance supervisory authority";
paragraph three considered the fourth paragraph;

paragraph four considered the fifth paragraph and the words "federal body of executive power for the supervision of insurance activities" were replaced by the words "insurance supervisory authority", the second sentence should read as follows: "specified prior authorization may not be refused insurance subsidiaries organizations vis-à-vis foreign investors (the primary organizations), or a share of foreign investors in their Charter capital of more than 49 per cent or becoming established as a result of these transactions, if installed this paragraph the size (quota) is not exceeded. ';
the fifth and sixth paragraphs respectively considered paragraphs sixth and seventh;
in) (repealed-Federal Act of arrival N 234-FZ) 4) articles 7 and 8 shall be amended as follows: "article 7. Legal mutual insurance society and individuals for the insurance protection of their property interests can create mutual insurance society in a manner and under conditions determined by the Federal law on mutual insurance.
Article 8. Insurance agents and insurance brokers 1. Insurance agents-the citizens of the Russian Federation, carrying out their activity on the basis of a civil law contract, or Russian legal entities (businesses) that represent the insurer in relation to the insured on the instructions of the insurer in accordance with the supplied credentials.
2. Insurance brokers-the citizens of the Russian Federation, have been registered in accordance with the laws of the Russian Federation as individual entrepreneurs or Russian legal entities (commercial organisations) representing the insured person in the relationship with the insurer on behalf of the insured person or undertaking on its behalf mediation services concerning the conclusion of contracts of insurance or reinsurance contracts.
Insurance brokers may perform other activities not prohibited by law relating to insurance, except for the activities as an insurance agent, insurer, reinsurer.
Insurance brokers do not have the right to carry out activities not associated with insurance.
3. Activities of insurance agents and insurance brokers to provide services relating to the conclusion of insurance contracts (except for reinsurance treaties) with foreign insurance institutions on the territory of the Russian Federation is not allowed. ";
5) (repealed-Federal Act of arrival N 234-FZ) 6) name of article 9 shall be amended as follows: "article 9. The insured risk, the insured event ";
7) articles 10, 11, 12, 13 and 14 shall be amended as follows: "article 10. Sum insured and insurance payment 1. Sum insured is a sum of money which is set by federal law and (or) defined in the contract and on the basis of which establishes the size of insurance premiums (insurance premiums) and the amount of insurance indemnity upon occurrence of an insured event.
2. When carrying out property insurance, the insured amount may not exceed its actual cost (value) at the time of conclusion of the insurance contract. The parties may not challenge the insurance value of the property specified in the insurance contract, unless the insurer can prove that he was deliberately misled by the insured.
When carrying out personal insurance sum insured is determined by agreement of the insurer with the insured.
3. Insurance benefit is a monetary amount set by federal law and (or) the insurance contract and paid by the insurer to the policyholder, the insured person, beneficiary upon occurrence of the insured event.
Indemnity insurance contracts shall be made in the currency of the Russian Federation, except as provided for in paragraph 4 of this article and by the Russian Federation legislation on currency regulation and currency control.
4. property insurance Conditions and (or) civil liability to the extent of the sum insured may provide replacement indemnity (indemnity) providing property, similar to lost property.
5. in case of loss, the loss of the insured property, the insured, the beneficiary may renounce their rights to him in favor of the insurer for the purpose of extorting from him indemnity (indemnity) of the total sum insured.
6. When carrying out personal insurance insurance payment (sum insured) is made to the insured or the person entitled to receive insurance payment (sum insured) under an insurance contract, irrespective of the amounts due under other insurance contracts, as well as compulsory social insurance, social security and compensation for harm.
When implementing the insurer's life insurance in addition to the sum insured may pay a portion of investment income.

7. upon the termination of the life insurance contract providing for the survival of the insured person up to a certain age or period or occurrence of an event, the insured amount is returned within formed in accordance with the established procedure of insurance reserve on the day of termination of the insurance contract (the redemption amount).
8. the organizations and individual entrepreneurs are obliged to provide insurers upon request documents and conclusions related to the insured event and needed to address the question of insurance payment in accordance with the legislation of the Russian Federation.
Article 11. Premium (insurance) and insurance tariff 1. Premium (insurance premiums) the insuree in the currency of the Russian Federation, except for the cases stipulated by the legislation of the Russian Federation on currency regulation and currency control.
2. Insurance rate-the rate of insurance premium from unit of the sum insured, taking into account the insurance object and nature of insurance risk.
Particular amount of the insurance tariff is determined by the insurance contract by agreement of the parties.
Insurance rates for types of compulsory insurance shall be established in accordance with the federal laws on specific types of compulsory insurance.
Article 12. Coinsurance Coinsurance-insurance of one and the same object several insurers insurance in one insurance contract.
Article 13. Reinsurance 1. Reinsurance-protection one insurer (reinsurer) property interests of another insurer (reinsurer) associated with the adopted the latest insurance contract (the basic agreement) obligations under insurance payment.
2. Not subject to risk reinsurance indemnity under the insurance contract of life in parts of the insured persons under a certain age or period or occurrence of an event.
3. insurers, having licenses for realization of life insurance may not exercise on property insurance reinsurance undertaken by insurers.
4. Reinsurance is carried out on the basis of reinsurance contract concluded between the insurer and reinsurer, in accordance with the requirements of civil law.
5. in addition to the reinsurance contract as confirmation of an agreement between the reinsured and reinsurer can be used by other documents that apply based on the customs of trade.
Article 14. Combining the subjects of insurance 1. Subjects of insurance business in order to coordinate their activities, represent and defend the common interests of its members may form unions, associations and other associations.
2. Information about merging the subjects of insurance are subject to inclusion in the register of associations of the subjects of insurance business based on insurance supervision authority submitted copies of certificates of State registration of such associations and their constituent documents. ";
8) chapter I complement the article 14-1 as follows: "article 14-1. Insurance pools based on simple partnership contract (the contract about joint activity) insurers can work together without a legal entity in order to ensure the financial stability of insurance operations for individual types of insurance (insurance and reinsurance pools). ";
9) articles 25 and 26 shall be amended as follows: "article 25. Conditions for ensuring financial stability of the insurer 1. Safeguards to ensure the financial stability of the insurer are commercially reasonable insurance rates; insurance reserves sufficient for fulfillment of obligations under contracts of insurance, co-insurance, reinsurance, mutual insurance; own funds; reinsurance. (Repealed-Federal Act of arrival N 234-FZ)
2. Own funds of insurers (with the exception of mutual insurance societies carrying out insurance exclusively to its members) includes share capital, capital reserves, capital surplus, retained earnings.
3. insurers should have fully paid authorized capital, the amount of which shall not be lower than the present law the minimum amount of the authorized capital.
The minimum share capital of an insurer shall be determined on the basis of the base size of its Charter capital equal to 30 million rubles, and the following rates: 1 for insurance facilities contemplated in subparagraph 2 of paragraph 1 of article 4 of this law;
1-for the implementation of insurance objects contemplated in subparagraph 2 of paragraph 1 and (or) paragraph 2 of article 4 of this law;
2-for the implementation of insurance objects under subparagraph 1 of paragraph 1 of article 4 of this law;
2-for insurance of objects provided by subparagraphs 1 and 2 of paragraph 1 of article 4 of this law;
4-for the implementation of insurance as well as reinsurance combined with reinsurance companies.
Change in the minimum amount of the authorized capital of the insurer is only permitted federal law no more than once in two years the mandatory establishment of transitional period.

Amendment of the authorized capital borrowing and collateral is not permitted.
4. The insurers are required to comply with this law and the regulations of the insurance supervision authority demands financial sustainability part of forming insurance reserves, the composition and structure of assets taken to cover the insurance reserves, reinsurance, quota regulatory own funds ratio of the insurer and of commitments, the composition and structure of assets taken to cover the own funds of the insurer, as well as the issuing of bank guarantees. (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ) Article 26. Insurance reserves 1. To ensure fulfillment of obligations on insurance, reinsurance insurers in the manner prescribed by regulations of the insurance supervision authority, forming insurance reserves.
2. the funds of the insurance reserves are used exclusively for the implementation of insurance payments.
3. Insurance reserves are not subject to seizure in the federal budget and the budgets of the other levels of the budgetary system of the Russian Federation.
4. the insurer has the right to invest and otherwise invest insurance reserves in the manner prescribed by regulations of the insurance supervisory authority.
Placement of funds of insurance reserves should be diversification, recovery, profitability and liquidity.
5. in carrying out the objects of insurance personal insurance under subparagraph 1 of paragraph 1 of article 4 of this Act, the insurer may provide insured-person loan within the insurance reserve, formed under the insurance contract entered into for a term of not less than five years.
6. Insurance Organization shall be entitled to form the Fund preventive measures with a view to financing the activities of prevention of insured accidents. ";
10) articles 28 and 29 shall be amended as follows: "article 28. Accounting and reporting 1. Insurers maintain accounting, account for accounting and statistical reporting in accordance with the plan of accounts, accounting standards, accounting and reporting forms approved by the insurance supervisory authority, in accordance with the law.
2. accounting insurance personal insurance facilities contemplated in subparagraph 1 of paragraph 1 of article 4 of this law, and accounting for the insurance of other objects of insurance are maintained separately. (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ), Article 29. Publication of insurers annual accounting reports 1. Insurers publishes annual accounting reports in the manner and within the period prescribed regulatory legal acts of the Russian Federation, upon audit verification of the information contained in these records.
2. the publication of annual accounting reports should be in the media, including applicable in the territory in which the activities of the insurer. The publication of the information reported by the insurer in the insurance supervision authority. ";
11) in the title of chapter IV, the words "insurance" should be replaced by the words "the activities of the subjects of insurance";
12) article 30 shall be amended as follows: "article 30. State supervision over the activities of the subjects of insurance 1. State supervision over the activities of entities of the insurance business (hereinafter insurance supervision) is for the purpose of compliance with insurance legislation, the prevention and suppression of violations of parties of relations regulated by the present law, insurance law, protect the rights and legitimate interests of policyholders and other interested persons and States, the effective development of the insurance business.
2. Insurance supervision is carried out on the principles of legality, transparency and organizational unity.
3. Insurance supervision is carried out by the insurance supervisory authority and its territorial bodies.
Regulatory legal acts adopted by the insurance supervisory authority, explaining the insurance supervisory authority provisions of insurance legislation, the uniform State Register of the insurance business, register of associations of the subjects of the insurance business, information on suspension or restriction of the license, the license revocation (exception information about the subjects of insurance business from the unified State Register of subjects of insurance business) and other information on insurance supervision must be published in the Gazette defined by the insurance supervisory authority.
4. Insurance supervision includes:

1) licensing of insurance, certification of insurance Actuaries and the maintenance of the State Register of subjects of the insurance business, associations of insurance business entities registry;
2) monitoring compliance with insurance laws, including through on-site inspections of the insurance business, and the veracity of their reporting, as well as the insurers of their financial stability and solvency;
3) issuance within 30 days the stipulated by the present law permits to increase the size of statutory capital of insurance organizations financed by foreign investors to commit transactions with foreign investors on alienation of shares (interests in Charter capital) insurance organizations, at the opening of offices by foreign insurance, reinsurance, brokerage and other organizations active in the field of insurance, as well as the opening of branches of insurers with foreign investments;
4) development and approval in accordance with this law normative and methodological documents on activities of insurance business;
5) provision in the prescribed manner the implementation of a uniform State policy in the sphere of insurance.
5. subjects of insurance are required to: submit to established accounts of its activities, information on their financial situation;
comply with the requirements of the insurance legislation and fulfill the requirements of the insurance supervision authority to rectify violations of insurance laws;
provide, upon request, the insurance supervision authority the information necessary for the fulfilment of insurance supervision (with the exception of information constituting bank secrecy). ";
13) in article 31, the words "the State Committee of the Russian Federation for Antimonopoly Policy and promotion of new economic structures" were replaced by the words "the Federal Antimonopoly body";
14) article 32 shall be amended as follows: "article 32. Licensing activity of subjects of insurance 1. Licensing activity of subjects of insurance is carried out on the basis of their statements and documents submitted in accordance with this law.
The license for realization of insurance, reinsurance, mutual insurance, insurance brokering (hereinafter also referred to as the license) it is issued to the insurance business.
The right to pursue activities in the field of insurance is available only to the subject of the insurance business that receives a license.
2. In order to obtain a licence to exercise a voluntary and/or compulsory insurance, mutual insurance license applicant represents insurance supervisory authority: 1) application for license;
2) constituent documents of the license applicant;
3) document of State registration the applicant a license as a legal entity;
4) of constitutors on approval of the incorporation documents of the applicant a license and approval of the post of sole executive body, the Manager (s) of the company's collective executive body of the license applicant;
5) information on the composition of shareholders (participants);
6) documents confirming payment of the full amount of the authorized capital;
7) documents on State registration of legal entities, are the founders of the subject of the insurance business, the auditor's conclusion about the veracity of their financial statements for the most recent reporting period, if such persons there is a compulsory audit;
8) for information on sole executive body head (leaders) of the company's collective executive body, Chief Accountant, head of the internal audit Commission (internal auditor) of the license applicant;
9) information about insurance Actuaries;
10) insurance rules insurance stipulated by the present law, with the application of samples used documents;
11) calculations of insurance tariffs with application used actuarial calculations and indicating the source of baseline data, as well as the tariff structure;
12) forming insurance reserves;
13) economic justification implementation of the types of insurance.
3. In order to obtain a license for the delivery of additional classification types of voluntary and/or compulsory insurance, mutual insurance license applicant represents insurance supervisory authority the documents specified in subparagraphs 1, 10-13 paragraph 2 of this article.
4. The applicants licenses to conduct reinsurance are not covered by subparagraphs 9, 10 (in insurance rules on insurance), 11 paragraph 2 of this article (with the exception of samples of documents used in reinsurance).
5. In order to obtain a license for insurance brokering license applicant represents insurance supervisory authority: 1) application for license;
2) document of State registration the applicant a license as a legal entity or an individual entrepreneur;
3) constituent documents of the license applicant who is a legal person;
4) samples of contracts required to implement the insurance brokering;

5) documents certifying the qualification of employees and qualified insurance broker insurance broker-an individual entrepreneur.
6. The documents referred to in subparagraphs 2, 3, 6 and 7 (part of documents on State registration) of paragraph 2, subparagraphs 2 and 3 of paragraph 5 of this article shall be submitted in the form of notarized copies.
Statement and the documents referred to in subparagraphs 5, 8, 9, and 13, paragraph 2, subparagraph 4 of paragraph 5 of this article shall be submitted in the manner prescribed by the insurance supervisory authority.
7. license Applicants are subsidiaries vis-à-vis foreign investors (the primary organizations) or having a share of foreign investors in their Charter capital of more than 49 percent, in addition to the documents referred to in paragraph 2 of this article are in the order stipulated by the legislation of the country of the place of stay of the foreign investors, consent in writing to the relevant supervisory body for insurance activity of a country residence on the participation of foreign investors in the Charter capital of insurers established on the territory of the Russian Federation, or notify the insurance supervision authority about absence of requirements for such authorization in the country of the place of stay for foreign investors.
8. Defined in this article, the lists of documents submitted by license applicants for licences, are exhaustive. In order to verify the information received, the insurance supervision authority has the right to direct the organization requests in writing on the provision (within the limits of their competence) information relating to the documents submitted by the applicant a licence in accordance with the legislation of the Russian Federation.
9. When submitting in due form all the documents referred to in this article, the insurance supervision authority issues a license applicant notice in writing of the documents.
10. The changes made to the documents as a basis for obtaining a license in accordance with subparagraphs 2, 3, 5, 6, 7 (part of documents on State registration), 8-13 paragraph 2, subparagraphs 3, 4 and 5 of paragraph 5 of this article, the insurers are obliged to report in writing to the insurance supervisory authority and, at the same time, to submit documents confirming these changes within 30 days from the date the change is made.
11. A decision on the licence or refuse to issue a license, insurance supervision authority is exercised within a period not exceeding 60 days from the date of receipt of the insurance supervision authority of all documents provided for in this article to obtain the license applicant licence. The insurance supervision authority shall notify the applicant of a licence within five working days from the date of adoption of the decision.
12. Documents submitted to the subjects of insurance in the insurance supervision authority, should be written in the Russian language. ";
15) supplemented by articles 32-1-32-9 to read as follows: "article 32-1. Qualifications and other requirements 1. Leaders (including the sole executive body) of the subject of the insurance business is a legal person or a subject of insurance entrepreneur must have higher economic or financial education, documented on the higher economic or financial education recognized in the Russian Federation, as well as experience in the field of insurance and (or) finance for at least two years.
2. the Chief Accountant of the insurer must have higher economic or financial education, documented on the higher economic or financial education recognized in the Russian Federation, as well as experience of work on speciality not less than two years in insurance and reinsurance organization and (or) brokerage organization, registered on the territory of the Russian Federation.
3. Chief Accountant insurance broker must have experience of work on speciality not less than two years.
4. Insurance actuary must have higher mathematical (technical) or economic education, documented on higher mathematics (technical) or economic education recognized in the Russian Federation, as well as the qualification certificate, confirming the knowledge in the field of actuarial calculations.
5. managers (including sole executive body) and Chief Accountant of the subject of the insurance business is a legal person must have the citizenship of the Russian Federation.
Article 32-2. Licence fee 1. For issuance of a licence will be charged a license fee in the amount of four thousand rubles.
2. For issuance of a duplicate license, replace a license fee of one thousand rubles.
3. the amounts referred to in this article, payment shall be credited to the federal budget.
Article 32-3. Grounds for denial of a license applicant a licence 1. Grounds for denial of a license applicant a licence are as follows:

1) use license applicant legal entity, insurance supervisory authority applied for a license, full or short name (company name), being partially or completely the name of the subject of the insurance business about which information is entered into the unified State Register of insurance business. This provision does not apply to subsidiaries and dependent companies of insurance entities-legal entities;
2) possession by the license applicant on the application date on the implementation of additional types of voluntary and/or compulsory insurance, mutual insurance unrepaired breaches insurance legislation;
3) non-conformity of documents submitted to the applicant a licence to obtain a license, the requirements of this law and legal acts the insurance supervision authority;
4) inconsistency of constituent documents of the requirements of the legislation of the Russian Federation;
5) availability in documents submitted to the applicant a licence, unreliable information;
6) have managers (including sole executive authority) or a Chief Accountant of the license applicant appeal or outstanding conviction;
7) (repealed-the Federal law dated 21.12.2012 N 267-FZ) 8) availability of unsettled insurance supervisory authority regulations;
9) the insolvency (bankruptcy) (including intentional or fictitious bankruptcy) of the subject of the insurance business-legal entity due to the fault of the founder of the license applicant.
2. insurance supervision authority Decision on the refusal to grant a licence shall be in writing a license applicant within five working days from the date of adoption of this decision, stating the reasons for refusal.
The decision to refuse the grant of a license shall contain the grounds for refusal with the obligatory reference to the violations and shall be made not later than the deadline established in this law.
The decision to refuse the grant of a license is sent to the applicant a license with acknowledgment of receipt of this decision.
Article 32-4. Revocation of license revocation of a license or cancellation of the decision on the grant of a license shall be carried out in case of: failure of the license applicant to obtain licensing measures within two months from the date of notification of the grant of a license;
the establishment until the issuance of the licence applicant submission license fact unverified information.
Article 32-5. 1 license. License is granted without restriction of validity, except as defined in this Act.
2. Temporary License may be issued for a period specified in the statement of the license applicant, but not more than three years;
from one year to three years in the absence of information to reliably assess insurance risks, insurance rules submitted to licensing, as well as in cases stipulated by the insurance laws. (Repealed-Federal Act of arrival N 234-FZ) (Repealed-Federal Act of arrival N 234-FZ) Article 32-6. Restriction or suspension of licences 1. In identifying violations of the insurance legislation the subject of insurance business insurance supervisory authority is given to the Elimination of violations (hereinafter precept).
2. Requirement is given in the case of: 1) subject of insurance business activities prohibited by law, as well as activities in violation of the conditions established for the issuance of the licence;
2) non-compliance by the insurer insurance legislation part forming and placement of insurance reserves, other insurance payments guarantee funds;
3) non-compliance by the insurer of the established requirements to ensure the regulatory ratio of assets and obligations, other established requirements to ensure financial stability and solvency;
4) breach the subject of insurance requirements for submission of insurance supervision authority and (or) its territorial body of accounting;
5) failure to subject the insurance business within the prescribed period the documents required in the exercise of insurance supervision within the purview of the insurance supervision authority;
6) establish submission subject insurance in the insurance supervision authority and (or) its territorial body of incomplete and/or inaccurate information;
7) failure to subject the insurance business within the prescribed time limit in insurance supervision authority information on changes and additions made to the documents listed in paragraph 10 of article 32 of this law (with the application documents confirming such changes and additions).
3. Prescription is sent to the subject of the insurance business, if necessary, a copy of the regulations is sent to the relevant bodies of executive power.
The subject of the insurance business within the prescribed prescription period represents insurance supervisory authority documents confirming the Elimination of revealed violations.
These documents must be considered within 30 days from the date of receipt of all documents certifying fulfillment prescriptions in full.

Representation of the subject of the insurance business within the prescribed period the documents confirming the Elimination of revealed violations, is the basis for the recognition of prescriptions filled. On the lifting of regulations reported subject of insurance business within five working days from the date of adoption of this decision.
Setting in the subsequent fact submission subject insurance documents containing false information, is the basis for the recognition of this requirement previously refused.
4. In the case of non-compliance requirements adequately or within the prescribed time-limit, as well as in the case of evasion of the subject of the insurance business from getting the license regulations is limited or suspended in the manner prescribed by the insurance supervisory authority.
5. limitation of the license means a ban on certain types of insurance, mutual insurance, and reinsurance.
6. License suspension means: a ban on all types of insurance, mutual insurance as well as reinsurance to insurers;
suspension of activities for which a license has been granted, for insurance brokers.
7. The license is limited or suspended from the date of its publication in the Gazette, defined by the insurance supervision authority, the decision on the limitation or suspension of the license.
8. If you want a copy of the decision on the limitation or suspension of the licence shall be sent to the relevant executive authority.
Article 32-7. Renewal of licences 1. The renewal of the license after his restriction or suspension means the restoration of the right of the subject of the insurance business on the implementation of the activities for which a license has been granted, in full.
2. the grounds for lifting the measures imposed by paragraphs 5 and 6 of article 32-6 of this Act, is to address the subject of insurance revealed violations within the set term and in full.
3. a decision on the renewal of a licence shall enter into force on the date of its adoption and shall be notified to the subject of the insurance business and other stakeholders, within 15 days from the date of adoption of this decision. Decision on the renewal of the license is published in the Gazette, defined by the insurance supervisory authority.
Article 32-8. Termination of the activity of the subject of the insurance business or its elimination 1. Grounds for termination of activity of the subject of the insurance business are his statement, the Court's decision, the decision of the insurance supervisory authority to revoke the licence.
2. License is revoked in the event during the specified term subject insurance violations of the insurance legislation, which became the grounds for restriction or suspension of the license, and if the subject of the insurance business has not commenced activities within 12 months of the date of receipt of the license, or not implementing it.
The decision to revoke the licence shall be sent to the subject of the insurance business. If you need a copy of such decision shall be addressed to the relevant bodies of executive power.
The license shall cease as of the date of publication of the decision to revoke the licence at the Gazette, defined by the insurance supervisory authority.
3. The subject of the insurance business in respect of which the decision to revoke the licence is obliged to adopt, in accordance with the legislation of the Russian Federation decision to discontinue its activities or its elimination and to submit to the insurance supervision authority by this body order: 1) documents confirming the cessation of its activities;
2) accounting records with the mark of the tax authority;
3) documents confirming settlement of claims of creditors, including policyholders, insured persons, beneficiaries;
4) the original licence.
4. the right of the subject of the insurance business activities ceases from the date of publication in the media of the decision to revoke the licence.
5. Licence application entity owners, managers or shareholders which were found guilty of the liquidation of insurance business subject to grounds specified in the present article, may be considered by the insurance supervision authority not earlier than two years from the date of elimination of the specified principal insurance business.
6. In the event of default by the subject of the insurance business to satisfy the requirements of paragraph 3 of this article, the insurance supervision authority may apply to the Court for the Elimination of the subject of the insurance business is a legal person or on the cessation of the subject of the insurance business-an individual activity as an individual businessman.
Article 32-9. Classification of insurance 1. A license, issued by the insurer shall indicate the prescribed classification the following kinds of insurance: 1) life insurance in case of death, surviving until a certain age or period or occurrence of an event;
2) pension insurance;
3) life insurance on condition of periodic premiums (rents, annuities) and (or) with the participation of the insured in the investment income of the insurer;
4) insurance against accidents and illnesses;
5) medical insurance;

6) insurance of ground transport (except rail transport means);
7) means of rail transport insurance;
8) aircraft insurance;
9) water transport insurance;
10) insurance of cargoes;
11) agricultural insurance (crop insurance, agricultural crops, perennials, animals);
12) property insurance of legal persons, with the exception of vehicles and agricultural insurance;
13) insurance of citizens ' property, except vehicles;
14) civil liability insurance of owners of motor vehicles;
15) insurance of civil liability of owners of air transport;
16) civil liability insurance of owners of means of water transport;
17) means owners civil liability insurance of railway transport;
18) civil liability insurance of operators of dangerous objects;
19) civil liability insurance for infliction of harm due to deficiencies of goods, works and services;
20) civil liability insurance for damage caused to third parties;
21) liability insurance for non-fulfillment or improper fulfillment of obligations under the Treaty;
22) insurance business risks;
23) insurance of financial risks.
2. in order to obtain licences to insurers are in the insurance supervision authority insurance rules that can be assigned to kinds of insurance referred to in paragraph 1 of this article. (Repealed-Federal Act of arrival N 234-FZ) 16) article 33 shall be amended as follows: "article 33. Compliance with commercial and other secrets protected by the law of the insurance supervision authority officials officials of the insurance supervision authority may not disclose in any form of information constituting commercial and other secrets protected by law subject of insurance, except for the cases stipulated by the legislation of the Russian Federation. ";
17) article 35 shall be reworded as follows: "article 35. Dispute settlement disputes relating to insurance, as well as to the actions of the insurance supervisory authority and its officers, shall be resolved by a court, an arbitration court or arbitral tribunal, in accordance with their competence.
Article 2 1. Insurance organizations that were created before the entry into force of this federal law, shall be obliged to form their Charter capital in accordance with the requirements of article 25 of the law of the Russian Federation dated November 27, 1992 N 4015-(I) on the Organization of insurance business in the Russian Federation "in light of the changes that you made to this federal law changes and additions in the following order: up to July 1, 2004 year-to one third the size of the authorized capital;
until July 1, 2006 year-up to two thirds of the assigned amount of the authorized capital;
until July 1, 2007 year-set the size of the authorized capital.
Insurance companies have not complied with the requirements set forth in this article, the insurance supervision authority from 1 July of the year revokes licenses without proper prescriptions. Before 1 July of the year following the year in question, these insurance companies are obliged to implement the requirements of article 9, paragraphs 4-32-8 of the law of the Russian Federation dated November 27, 1992 N 4015-(I) on the Organization of insurance business in the Russian Federation ". In the event of failure to comply with these requirements the insurance supervision authority is obliged to apply to the Court for liquidation of insurance companies. (As amended by federal law from 07.03.2005 N 12-FZ)
2. Insurance companies, having at the same time obligations under insurance contracts insurance objects under subparagraph 1 of paragraph 1 of article 4 of the law of the Russian Federation dated November 27, 1992 N 4015-(I) on the Organization of insurance business in the Russian Federation "in light of the changes that you made to this federal law changes and additions, and objects of insurance contracts of property insurance under paragraph 2 of article 4 of the Act, taking into account the changes that you made to this federal law changes and additions must: 1) send to the insurance supervision authority until July 1, 2007 year: and) notice in writing of the chosen specialization, in accordance with article 6 of the law of the Russian Federation dated November 27, 1992 N 4015-(I) on the Organization of insurance business in the Russian Federation "in light of the changes that you made to this federal law changes and additions and a copy of the decision of the management body of the insurance company on the chosen specialization;
b) information in writing about existing at the date of issuance of the chosen specialization insurance contracts by type of insurance, not related to the chosen specialization, namely: the number of insurance contracts for each type of insurance;
the date of the conclusion and validity of each contract of insurance;
amount of sum insured for each insurance contract;
the size of the insurance reserves for each type of insurance;

2) fulfil the obligations arising from insurance contracts of insurance, other than the chosen specialization, including produce insurance payments to insured events occurring;
3) insurance supervisory authority to submit on a quarterly basis not later than the month following the quarter end, the information referred to in subparagraph b of paragraph 1 of this part;
4) within 30 days from the date of the expiration of all insurance contracts of insurance, other than the chosen specialization, to submit to the insurance supervision authority statement on making the appropriate changes in the license in connection with the completion of the specialization.
(The part in edition of the Federal law dated 30.06.2007 N 119-FZ) 2-1. Insurance organizations listed in part 2 of this article and did not comply with the requirements of paragraph 1 of part 2 of this article, insurance supervisory authority revokes licenses without proper prescriptions. (Part is supplemented by federal law from 30.06.2007 N 119-FZ) 2-2. From July 1, 2007 year insurance organizations listed in part 2 of this article shall not have the right to enter into contracts of insurance on insurance, not related to the chosen specialization, as well as to contribute, insurance contracts by type of insurance, not related to the chosen specialization, change, entailing an increase in the obligations of insurance organizations. (Part is supplemented by federal law from 30.06.2007 N 119-FZ)
3. Insurance brokers must obtain licenses before July 1, 2007 year-mutual insurance society up until July 1, 2008 year, insurance companies-license for conducting reinsurance to July 1, 2007 year. (As amended by the federal laws on 30.06.2007 N 119-FZ; from 29.11.2007 N 287-FZ)
4. changes in the constituent documents, connected with change of name (trade name) of the subjects of insurance business in order to avoid duplication must be paid within 18 months from the date of entry into force of this federal law.
5. (repealed-federal law of 01.12.2007 N 306-FZ) 6. Insurers operating on the basis of the insurance rules that can be assigned to kinds of insurance referred to in paragraph 1 of article 32-9 of the law of the Russian Federation dated November 27, 1992 N 4015-(I) on the Organization of insurance business in the Russian Federation "in light of the changes that you made to this federal law amendments, within 18 months from the date of entry into force of this federal law shall submit to the insurance supervision authority statements concerning the replacement of forms of licenses.
Article 3: void paragraphs 2 and 3 of article 5, paragraph 3 of article 9, article 27 of the law of the Russian Federation dated November 27, 1992 N 4015-(I) on the Organization of insurance business in the Russian Federation "(records of the Congress of people's deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1993, N 2, p. 56; collection of laws of the Russian Federation, 1998, N 1, p. 4);
paragraphs 4 and 5 of the resolution of the Supreme Soviet of the Russian Federation dated November 27, 1992 N 4016-I "on the entry into force of the law of the Russian Federation" on insurance "(Gazette of the Congress of people's deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1993, N 2, art. 57). Article 4 1. This federal law shall enter into force on the expiry of thirty days from the day of its official publication, except in the following provisions: the fourth paragraph of article 5 paragraph 1 hereof in the insurance actuary in the insurance supervision authority shall enter into force from July 1, 2007 year;
twelfth paragraph of paragraph 2, the third and fifth paragraphs item 5, eighth paragraph of paragraph 12, indent 1, paragraph 15 of article sixth hereof in a part of the certification of insurance Actuaries, issuance of qualification certificates come into force from July 1, 2006 year.
2. Normative-legal acts are in conformity with the present Federal law within three months from the date of its entry into force.
The President of the Russian Federation v. Putin in Moscow, the Kremlin December 10, 2003 N 172-FZ

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