GUARANTEEING THE INSURANCE PAYMENTS IN THE REPUBLIC OF KAZAKHSTAN AS A TOOL FOR ENSURING THE STABILITY OF THE INSURANCE MARKET
Keywords:
guarantee of insurance payments, guaranteed types of insurance, development of the insurance market, consolidation of insurance legislation, insurance payment guarantee Fund, legal monitoringAbstract
In accordance with the work plan for 2019, the center for legal monitoring of the RSE at the Institute of legislation and legal information of the Republic of Kazakhstan conducted an analysis of the effectiveness of the Law of the Republic of Kazakhstan "on the insurance payment guarantee Fund" dated June 3, 2003, No. 423.
The article shows the position and attitude of prominent scientists and politicians of the last century to insurance as one of the financial instruments for ensuring the financial stability of the population. The necessity, importance, role and purpose of the Institute for guaranteeing insurance payments in the insurance sector are reflected. The analysis of the current legislation in the field of insurance, the system and social significance of the Institute for guaranteeing insurance payments, as well as the results and dynamics of the main indicators of financial activity of JSC "insurance payment guarantee Fund"is given. In addition, the issues related to the features of the Kazakhstan model of guaranteeing insurance payments, forms and means of state regulation applied in this area were considered.
The article describes the shortcomings of Kazakhstan's insurance payment guarantee system, conflicts between the Law and other laws, legal and linguistic shortcomings, as well as the rules that require an editorial amendment.
Based on the results of the analysis, specific measures to improve and develop the national insurance legislation in the field of guaranteeing insurance payments, developed on the basis of analysis of national and foreign legislation, are proposed. The necessity of consolidation of insurance legislation to ensure the unity, integrity and consistency of the legislation of the Republic of Kazakhstan is justified. The article considers the issue of de-monopolization of the insurance market for guaranteed types of insurance as a means of ensuring its availability (for business entities engaged in financial activities in the insurance sector) and further development, as well as the consistent rejection of direct state presence in the insurance market.