Compulsory civil liability insurance of private notaries

The insurance is carried out under the Law of the Republic of Kazakhstan No. 435-II of 11 June 2003 "On Compulsory Civil Liability Insurance of Private Notaries".

Liability insurance of private notaries makes it possible to protect the property interests of third parties who have suffered harm as a result of notarial acts performed by a private notary.

The object of insurance is the property interests of the private notary connected with his obligation to compensate for harm caused to third parties as a result of the notarial acts he has performed.

An insured event is the occurrence of the policyholder's civil liability to compensate for harm caused to the property interests of third parties as a result of the notarial acts he has performed.

The amount of insurance payments, like that of premiums, is regulated at the level of legislation.

In recent years attention to the development of professional liability insurance in general, and of notaries' professional liability insurance in particular, has grown significantly because of the importance of the notarial institution itself. It has repeatedly been noted that the notariate, as a key element of civil society that ensures the effective organization and functioning of civil legal turnover, is one of the central instruments by which the state secures citizens' guaranteed constitutional rights to the protection of their rights, freedoms and legitimate interests.

Today, on a worldwide scale, the notariate is a system of bodies entrusted with certifying transactions, formalizing inheritance rights and performing other acts, legally securing civil rights and preventing their possible infringement.
When performing a notarial act, a notary must be able to examine the documents presented to him, look carefully into the circumstances of the case, seek to understand the motives of the parties, explain their rights and obligations thoroughly, and warn the parties of the consequences of the notarial acts being performed, so that legal unawareness cannot be used to their detriment. A notary does not simply put a seal and his signature on a contract: he first talks with the people involved, establishes the identity and determines the legal capacity of the persons taking part in the transaction, and protects the rights of minor children and of citizens lacking legal capacity.
One of the requirements of the Law of the Republic of Kazakhstan "On Notaries" for private notaries is civil liability insurance, which serves as a guarantee of obligations arising from harm caused by the performance of notarial acts.
Under the Law of the Republic of Kazakhstan "On Compulsory Civil Liability Insurance of Private Notaries", the object of compulsory civil liability insurance of private notaries is the property interests of a private notary connected with his obligation to compensate for harm caused to third parties as a result of the notarial acts he performs, for which a private notary is required, in accordance with the legislation of the Republic of Kazakhstan on notaries, to conclude a compulsory liability insurance contract of a private notary.
The purpose of compulsory liability insurance of private notaries is to protect the property interests of third parties who have suffered harm as a result of notarial acts performed by a private notary, by means of insurance payments.
A private notary has no right to perform notarial acts without concluding a compulsory liability insurance contract of private notaries. A private notary who practices without an insurance contract bears the liability established by the laws of the Republic of Kazakhstan.
Under a compulsory liability insurance contract of private notaries, an insured event is the occurrence of the policyholder's civil liability to compensate for harm caused to the property interests of third parties as a result of notarial acts performed by a private notary. The insured event is deemed to have occurred from the day on which the court decision on compensation of the harm caused by the policyholder enters into legal force, or from the day on which the policyholder acknowledges the third parties' claims for compensation as justified and the insurer agrees with the policyholder's acknowledgement of those claims.
A claim for an insurance payment is submitted to the insurer, in writing, by the policyholder or by the third party, together with the documents needed to make the insurance payment.
A claim for an insurance payment for harm caused to the property interests of third parties during the term of a compulsory liability insurance contract of private notaries may be submitted to the insurer within three years from the occurrence of the insured event. Disputes arising from a compulsory liability insurance contract of private notaries are considered in the manner established by the legislation of the Republic of Kazakhstan.