The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published consumer guidance on how mandatory civil liability insurance for vehicle owners and voluntary motor insurance (CASCO) work after a road traffic accident. It reiterates that the mandatory policy compensates damage caused to other accident participants but does not cover damage to the at-fault driver’s own vehicle, while CASCO can be used to insure repair or restoration costs for the insured vehicle. The guidance highlights that CASCO payouts can depend on specific policy terms and exclusions, including deductibles, territorial restrictions, and cases where damage results from intentional or unlawful actions. It also stresses that CASCO must be valid at the time of the accident, documentation must be correctly completed, and the insurer must be promptly notified, as incorrect or incomplete information can be grounds for refusing payment; these considerations are flagged as particularly relevant for owners of new or expensive vehicles due to potentially high repair costs. Further educational materials are available via Fingramota.kz.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-05-20
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issues guidance on mandatory motor liability cover and CASCO claim conditions
Kazakhstan's Financial Market Agency issued guidance on mandatory civil liability insurance and voluntary motor insurance (CASCO) for vehicle owners. Mandatory insurance covers damage to others, while CASCO covers the insured vehicle per policy terms. It stresses valid CASCO coverage, proper documentation, and timely insurer notification, especially for new or expensive vehicles.