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Compulsory Civil Liability Insurance of the Organizations Operating Hazardous Production Facilities
Insurance Conditions:
first of all, claims to compensate harm to life and health of individuals; 2) second, the harm done to property of individuals; 3) third, the harm done to property of legal entities; 4) fourth, the harm done to the environment.
The Insurant is an individual or legal entity who signed the insurance contract with insurance company (insurer)
Insurance Period is 12 months (at implementation of employer’s activity for less than twelve months the contract is signed for the term of implementation of this activity)
Insured Amount is determined by the agreement between the Insurant and the Insurer, but it should not be less than annual wage fund of all employees by staff categories
Important to know:
Compulsory Civil Liability Insurance of the Organizations Operating Hazardous Production Facilities Act of the Kyrgyz Republic was adopted on August 15, 2008
1. Object of Compulsory Civil Liability Insurance of the Organizations Operating Hazardous Production Facilities is property interest of the organization operating hazardous production facilities connected with the obligation established by the civil legislation of the Kyrgyz Republic to compensate the harm caused to life, health and (or) property of the third parties, and environment in the result of accident at the hazardous production facility
2. Insured Event under the Contract of Compulsory Insurance shall be considered a fact of civil liability of the Insurer to compensate harm inflicted to life, health and (or) property of the third party in the result of accident at hazardous production facility
3. Payments of insurance compensation shall be made within the insured amount determined in the Compulsory Insurance Contract.
4. Payment of insurance compensation shall be made by the Insurer no later than thirty days from the date of obtaining the relevant documents by it.
Satisfaction of compensation claims in the result of an accident at the hazardous production facility recognized by the Insurer or the judgment as an insured event shall be carried out upon their receipt, and at simultaneous receipt of several claims in the following priority order:
1) first of all, claims to compensate harm to life and health of individuals;
2) second, the harm done to property of individuals;
3) third, the harm done to property of legal entities;
4) fourth, the harm done to the environment.
