SOME ASPECTS OF THE INSURANCE ORGANIZATION ACTIVITIES IN THE REPUBLIC OF KAZAKHSTAN (result of legal monitoring)

Abstract

The insurance system in the Republic of Kazakhstan has undergone a number of important structural changes that have occurred as a result of the transition to market relations. It had a serious impact: the state monopoly on insurance operations smoothly passed to the insurance market. During the years of independence of Kazakhstan, an active process of the formation of new insurance companies was observed, which began to build their work, taking into account the real insurance interests of all economic entities.

The principles of organization of insurance relations of the modern market of Kazakhstan require further development and modernization of the insurance business, its greater adaptation and approximation to world standards. And this, first of all, concerns the improvement of the legislative base, the development of guidelines in the field of insurance and forms of insurance operations in accordance with the requirements of a market economy.

 In the article, based on the study of legislation in the field of insurance, the practice of its application, scientific research and based on the materials of the round table with representatives of non-governmental organizations, the National Bank of the Republic of Kazakhstan, the norms and provisions of the Law of the Republic of Kazakhstan “On insurance activity” are analyzed.

The author pays special attention to the content and style of presentation of the text of a regulatory legal act. It identifies such conceptual notes as the presence of gaps, collisions, duplication, as well as inefficiently used and corrupt norms. The author believes that the shortcomings revealed during the analysis testify to inadequate compliance with the norms of the literary language, legal terminology and legal techniques, which makes it difficult to properly understand the norms of the law in practice.

In addition, the author notes the priority development of the insurance market as a tool for financial protection, which is reflected in program documents, speeches by the Head of State, the Concept for the Development of the Financial Sector of the Republic of Kazakhstan until 2030.

In order to improve the insurance activity, the author has made suggestions for eliminating the identified shortcomings of the Law “On Insurance Activity”.