Compulsory insurance
Voluntary insurance

Business insurance in Kazakhstan is divided into two large groups: compulsory and voluntary. Compulsory types are established by law — a company must conclude a contract if it carries on certain activities or owns certain facilities. Voluntary types are chosen by the company itself, based on its own risks and on the requirements of partners, banks and customers.

Compulsory insurance for legal entities

Compulsory insurance protects primarily third parties and employees: if the company's activity causes harm, the injured parties receive compensation from the insurance payment and do not have to wait until the enterprise finds the funds. The list of compulsory types and the terms for each are determined by separate laws. The most common include:

  • MTPL — compulsory civil liability insurance of vehicle owners. It is needed for each of the company's cars, including official vehicles and vehicle fleets.
  • OSRNS — compulsory insurance of an employee against accidents in the performance of employment (official) duties. It applies to employers that have employees under employment contracts.
  • Civil liability insurance of owners of hazardous facilities — compulsory civil liability insurance of owners of facilities whose operation involves a danger of causing harm to third parties.
  • Compulsory environmental insurance — for natural resource users engaged in environmentally hazardous activities.
  • Carrier's civil liability insurance to passengers — for companies that carry passengers.
  • Compulsory professional liability insurance for certain categories — for example, audit organizations, private notaries and other specialists for whom such insurance is provided by law.

The exact list of compulsory types, the sums insured and the requirements for contracts change over time. Before concluding a contract, it is worth checking the current version of the relevant law at adilet.zan.kz or clarifying the requirements with a broker.

What the absence of a compulsory policy entails

If a compulsory contract has not been concluded, the company risks an administrative penalty and, if harm is caused, having to compensate it from its own funds. For a number of activities the presence of a policy is checked when obtaining permits, taking part in tenders, or during inspections by supervisory bodies.

Voluntary insurance for business

Voluntary programs cover risks that the law does not require to be insured but that could seriously affect a company's finances. The main lines are:

  • Property insurance — buildings, equipment, goods in a warehouse and raw materials against fire, flooding, natural disasters and unlawful acts of third parties. For more, see business property insurance.
  • Cargo insurance — protection of cargo in transit by different modes of transport.
  • CASCO and vehicle fleet insurance — protection of the company's own vehicles against damage and theft.
  • Voluntary liability insurance — general civil liability, professional liability, product liability, employer's liability.
  • Medical insurance and accident insurance for employees — part of the social package and a tool for retaining staff.
  • Construction and erection risks — for developers and contractors during the construction period.
  • Specialized types — insurance of cyber risks, marine vessels, aviation risks, energy facilities and agricultural risks.

How to choose an insurance program for a company

  1. Draw up a list of risks. What will happen to the business if a warehouse burns down, key equipment breaks down, an employee is injured or a customer makes a claim?
  2. Check the compulsory requirements. Determine which types of insurance are compulsory for your activity and facilities.
  3. Take partners' requirements into account. Banks for collateral property, lessors, and customers under contracts and tenders often require specific policies with certain limits.
  4. Determine the sums insured and limits. Underinsurance, unless the contract provides otherwise, leads to a proportional reduction of the payment, and an overstated sum leads to unnecessary costs.
  5. Choose the deductible. A higher deductible lowers the cost of the policy, but the company will cover small losses itself.
  6. Study the exclusions. It is important to know in advance which events and types of damage are not covered.

What to look at in the contract

  • the territory of insurance and the exact address of the facilities;
  • the list of insured risks and the wording of events;
  • the sum insured, and the limits per event and for the whole term of the contract;
  • the amount and type of deductible (conditional or unconditional);
  • the deadlines for notifying an insured event and the list of documents for payment;
  • the policyholder's obligations: security, fire-prevention measures, equipment maintenance.

What to do when an insured event occurs

When an event occurs, it is important to take measures to reduce the damage, call the competent services (police, fire brigade, emergency services), notify the insurer within the period set by the contract and, if possible, preserve the damaged property until it has been inspected. Then the documents confirming the fact and the amount of damage are collected. A broker helps at every stage: advising which documents are needed and liaising with the insurance company.

Frequently asked questions

Can several types of insurance be combined in one contract?

Yes, comprehensive programs are often used for business, in which property, liability and other risks are insured in one contract. This simplifies administration, but the terms for each risk still need to be checked separately.

How can I estimate the cost of insurance in advance?

An approximate calculation for a number of types can be made in the calculators section. The exact cost depends on the characteristics of the object and the type of activity and is determined by the insurer.

If you need to select a program for a company or check existing policies, you can get a consultation from a broker.