Mandatory Employees Accident Insurance

Mandatory employee accident insurance during the performance of employment duties

This type of insurance is mandatory under the Law of the Republic of Kazakhstan “On mandatory employee accident insurance during the performance of employment(official) duties”.

Insurance is mandatory for all employers! Reluctance to enter into mandatory insurance contract incurs administrative liability, in accordance with the laws of the Republic of Kazakhstan.

Insurance of business employees protects the interests of employee or of persons entitled to compensation as a result of death or disability of the employee, by way of payout of insurance indemnities.
Life and health of business employees are insured against unforeseen circumstances.

Social responsibility of employer to employees and their dependents
In case of employee’s disability insurance company pays monthly annuities or effects lump-sum payments to the affected employee, and in case of their death – to persons entitled to compensation under the civil legislation of Kazakhstan.

Payments are made regardless of the degree of guilt of the affected person.
Where life and health of an employee was harmed in an accident resulting in disability or death, insurance company will make payments even if the injured employee is found guilty.

From 1 January 2012 in accordance with amendments introduced to the law on mandatory insurance, the exclusive right to maintain insurance under the type of Mandatory employee accident insurance was assigned to a life insurance company (LIC).

However, life insurance companies (LIC), due to low capitalization and insufficient reserves reinsure a significant portion of the risks assumed with general insurance companies, including OIC JSC.

OIC JSC functions as a reliable reinsurer for life insurance companies!

OIC JSC functions as a reliable reinsurer for life insurance companies!:

  1. Extensive experience in examining occupational insurance claims since 1998. 
  2. Well-developed branch network, which means you can always seek advice in any region of the Republic of Kazakhstan 
  3. Availability of a staff lawyer at each branch office helps in the investigation of an accident together with the Department of Labor.

The amounts of insurance indemnities in OIC JSC for Mandatory employee accident insurance

  • In 2011 - 198.6 million tenge. 
  • In 2012 - more than 298 million tenge.
  • In 2013 payments exceeded 378.5 million tenge.

Cooperation with OIC

Contact us at:+7 (727) 258-18-00 ext. 1055 or send an email application to:

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