Under an insurance contract, one party (policyholder) undertakes to pay an insurance premium, and the other party (insurer) undertakes, upon the occurrence of an insured event, to make an insurance payment to the policyholder or other person in whose favor the contract is concluded (to the beneficiary), within the amount specified by the contract (insurance amount).
 
PARTIES TO THE INSURANCE AGREEMENT

Policyholder - a person who has entered into an insurance contract with an insurer. Policyholders can be legal entities and citizens.

Insurer - a person who provides insurance, that is, upon the occurrence of an insured event, is obligated to make an insurance payment to the insured or to another person in whose favor the contract has been concluded (to the beneficiary), within the amount determined by the contract (insurance amount). An insurer can only be a legal entity registered as an insurance company and having a license to carry out insurance activities or a mutual insurance company in accordance with the legislation of the Republic of Kazakhstan on mutual insurance.

Insured - a person in respect of whom insurance is carried out.

Beneficiary - a person who, in accordance with the insurance contract or legislative acts of the Republic of Kazakhstan, is the recipient of insurance payment. The beneficiary can be both a legal entity and a citizen.
 
In this section you can familiarize yourself with the property insurance contract, the business risk insurance contract.