Insurance

General qualification requirements for insurance companies


  • Insurance companies, which intend to cooperate with JSC "Oschadbank" for the insurance must meet the following general qualification requirements. 
    • Compliance with the insurance company with the Law of Ukraine "On insurance" and other regulations in the insurance. 
    • Lack of arrears in payments from state and local budgets and other obligatory payments. 
    • The availability of insurance company (or its predecessor, with respect to which the insurance company is the successor) of experience in the insurance market is less than 2 years. 
  • Insurance companies, which intend to cooperate with JSC "Oschadbank" and, in their opinion, meet the general qualification requirements (according to paragraph 1) shall submit to the Department of Insurance and related financial products of JSC "Oschadbank" statement of intent of cooperation, which attached the following documents: 
    • General information about insurance company. 
    • Certificate of registration - 2 copies. 
    • Certificate for inclusion in EDRPOU. 
    • Certificate of registration tax. 
    • Licenses for the introduction of insurance - 2 copies. 
    • Statute - 2 copies. 
    • Information about changes to statutory documents - 2 copies. 
    • The auditor's report on the last reporting date. 
    • Letter from the Financial Services Commission regarding the lack of regulations over the last year of the date of filing or if such regulations and their implementation in full. 
    • F1 Balance and Income Statement F2 of the last reporting date and the previous calendar year. Income and expenses of the insurer (with all sections and explanations) of the last reporting date and the previous calendar year. 
    • Reporting insurer submitted to the Commission (Annexes 1-7) for the last reporting date and the previous calendar year. 
    • Description of the reinsurance, if any (reinsurers, the type of contract, actual retention quotas, capacity contract, the amount of cash loss warning over cash settlement for damages, etc.) 
    • Letters of confirmation of the existence of reinsurance contracts reinsurance or other document confirming the existence of such a contract. 
    • Statement of Cash Flows. 
    • Equity report. 
    • Information about the founders (with indication of the share ownership of the authorized capital, in%), members of the Supervisory Board and Board - 2 copies. 
    • Documents proving the power company officials to sign agreements. 
    • General information about customers and Insurance companies. 
    • Information on the availability of branches, indicating the code EDRPOU and offices - 2 copies. 
    • Information on insurance products company. 
    • Insurance Terms of on certain types of insurance. 
    • Information about the experience of insurance payments for the last reporting date and the previous calendar year. 
    • Other documents at the request of Department. 
    • Card with signatures and seal (notarized). 
    • Certificate of no debt from taxes and duties (mandatory payments). 
  • Information submitted in printed in a folder registrar. 
  • If the documents referred to in subparagraphs of paragraph 2 provided by the insurance company in an incomplete or improperly executed, the analysis on the possibility of accreditation of the insurance company is not to resolve (correcting) these deficiencies.