Requirements and rules on the organization of insurance activity in the Russian Federation are constantly being tightened.
It is caused primarily by the desire to protect the consumer against unfair or insolvent insurer, as well as to introduce prudential regulation among the players in this market segment.
Each insurance company in Russia should belicensed for this type of activity. To understand how the licensing process is happening, it is necessary first of all to know about the basic intricacies and documents that will be necessary to apply to the service of insurance supervision.
What is a license
The term license refers to Resolutionto engage in a certain kind of activity, during which the need to comply with the special requirements and conditions. This document is issued only to a legal entity of any form of ownership. the licensing process itself involves activities aimed at obtaining, renewal, suspension or renewal of a license. The presented document assumes that the insurance company may be engaged in a selected type of service, have obligations, including the nature of the property, as well as be responsible. provided by the legislation.
The package of documents
It should be noted that a licenseYou will need to spend a very significant amount of time, so that the collection of documents should be approached responsibly. Thus, according to the Russian Federation law "On the organization of insurance business", the insurance company can obtain a temporary license for a period up to 3 years or perpetual license.
Licenses are issued a special body - the FederalService for Insurance Supervision, which will make a decision on licensing, based on the application and documents. The entire list of required documents can be found in Art. 32 of the Law "On organization of insurance business". But if the insurance company for the first time to apply for a license, you must provide the following list:
- Legal person registration document
- Constituent dokumenty-
- Special insurance rules according to certain types of insurance and other documents.
In addition, the director of the insurance company will have to provide more and documents confirming his experience and the type of learning.
Timing of licenses and review of the documents may be:
- 120 days for the first release,
- 60 days for additional types of insurance. But this one does not interfere with the Federal Service to detain documents and extends further.