The requirements and rules for organizing insurance activities in the Russian Federation are constantly becoming stricter. This is due primarily to the desire to protect the consumer from a dishonest or insolvent insurer, as well as to introduce reasonable regulation among the players in this market segment.
Every insurance company in Russia must be licensed to carry out this type of activity. To understand how the licensing process is going on today, you first need to know about the main subtleties and documents that will need to be submitted to the insurance supervision service.
What is a license
A license means permission to engage in a certain type of activity, during which special requirements and conditions must be observed. This document is issued only to a legal entity of any form of ownership. The licensing process itself implies measures aimed at obtaining, re-issuing, suspending or renewing a license. The presented document implies that the insurance company can engage in the selected type of services, have obligations, including those of a property nature, and also be liable. provided by law.
Package of documents
It should be noted that it will be necessary to spend a very significant amount of time to obtain a license, so it is worthwhile to approach the collection of documents responsibly. So, according to the law of the Russian Federation "On the organization of insurance business", an insurance company can obtain a temporary license for up to 3 years or a perpetual license.
Licenses are issued by a special body - the Federal Service 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 the organization of insurance business". And if the insurance company is applying for a license for the first time, then the following list must be provided:
- application;
- registration document of a legal entity;
- constituent documents;
- special insurance rules according to certain types of insurance and other documents.
In addition, the director of the insurance company will also have to provide documents confirming his work experience and the type of education received.
The terms for obtaining a license and consideration of documents may be:
- 120 days upon first issue, - 60 days for an additional type of insurance. But at the same time, no one prevents the Federal Service from delaying documents and extending the terms additionally.
