Article 14. Rights and Obligations of the Insurer

The insurer shall have the right to:

conclude insurance (reinsurance) contracts;

reinsure its obligations in accordance with the established procedure, including outside the Republic of Uzbekistan;

carry out investment activities;

carry out professional activities in the securities market as an investment intermediary. In this case, the insurer shall not be required to obtain a license to carry out this type of activities;

carry out activities related to the advanced training of specialists in the field of insurance (reinsurance);

develop and approve the rules (terms and conditions) for the types of insurance carried out by the insurer;

in accordance with the established procedure, request and receive from law enforcement bodies, courts, medical, seismological, veterinary, hydrometeorological and other organizations the relevant information and documents necessary to determine the causes and circumstances of the occurrence of the insured event, as well as the amount of the insurance indemnity (insurance benefit);

conclude relevant contracts with insurance agents, insurance and reinsurance brokers and other professional participants of the insurance market;

refuse to pay the insurance indemnity (insurance benefit), early terminate the insurance (reinsurance) contract in the cases and in accordance with the procedure established by the legislation and/or the insurance (reinsurance) contract;

in accordance with the procedure provided for by the insurance (reinsurance) contract, check the information provided by the insurant, monitor the insurant's compliance with the requirements, terms and conditions of the insurance contract;

provide surveyor and adjuster services to foreign insurers;

sell or lease property previously acquired by the insurer for its own needs or received at its disposal as a result of the implementation of the insurance contract;

receive information from rating organizations of the Republic of Uzbekistan and foreign rating organizations;

establish its own separate subdivisions.

The insurer may also have other rights in accordance with the legislation and its signed contracts.

The insurer shall be obliged to:

comply with the requirements of the legislation on insurance activities;