Mandatory civil liability of private notaries

While performing his professional activities, a notary may unintentionally make mistakes that cause financial losses to his clients. The result is large amounts of claims and a lack of reserves for such compensation. But all this can be avoided by insuring your liability with our company! Insurance for this class is carried out on the basis of the Law of the Republic of Kazakhstan dated June 11, 2003 No. 435-II “On compulsory insurance of civil liability of private notaries.”

Insurance rules "OS GPO of private notaries" new edition (KAZ) (RUS)

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The civil liability of a private notary, who has a license to perform notarial acts is subject to compulsory insurance.

In Kazakhstan, compulsory insurance of private notaries is regulated by a separate law dated June 11, 2003 No. 435-II “On compulsory insurance of civil liability of private notaries.”

The object of civil liability insurance is the property interests of a private notary, associated with his obligation to compensate for damage, caused to third parties as a result of his notarial actions.

What is an insured event?

The fact of the occurrence of civil liability of the insured for compensation of damage, caused to the property interests of third parties as a result of the performance of notarial acts by a private notary.

Insurance cost

The amount of the insurance premium is established by agreement of the parties, but cannot exceed 4.5% of the sum insured.

Amounts of insurance sums

The amount of the insurance amount under the compulsory civil liability insurance contract for private notaries should be:

not less than 1000 times the MCI for notaries operating in the territory of a city of republican significance and the capital.
not less than 500 times the MCI for other notaries.

Insurance payment does not provide compensation for moral damage, lost profits or penalties.
Insurance payment is made in the amount of actual damage, but not more than the insured amount.
The amount of the insurance payment is determined by the Insurer based on the amount of claims of third parties or a court decision on compensation for damage caused that has entered into legal force.