Insurance Legislative Base

Laws, Codes, Regulations

• "On Insurance" (02.05.1997)
• "On Medical Insurance" (18.04.1997)
• "On Compulsory Civil Responsibility Insurance of Owners of Transport Means" (27.06.1997)
• "On Compulsory Life and Health Insurance and Pension of Member of Parliament" (24.06.1999)
• "On Non-State Pension Insurance and Security" (30.10.1998)
• "On Facilitating the Prevention of Illicit Income Legalization" (25.02.2004)
• "On Licenses and Permits" (24.03.2005)

• On Air Code of Georgia (29.10.1996)
• On Maritime Code of Georgia (15.05.1997)
• On Civil Code of Georgia (26.06.1999)

• "Rule of Formation of Insurance Reserves by Classes of Insurance (Except Life Insurance)" (14.01.1998)
• "Rule of Investment and Allocation of Insurance Reserves Formed by Classes of Insurance (Except Life Insurance)" (26.11.1998)
• "Rule of Determining Marginal Correlation Between Own Capital and Attracted Financial Resources of Insurance Organizations Licensed to Carry out Classes of Insurance (Except Life Insurance)" (22.12.1998)
• "Rule of Accounting and Reporting by Insurance Organizations" (12.02.1999)
• "Rule of Adoption of The Minimal Filled Up Authorized Capital at Each Stage of Insurance Activity on the Territory of Georgia" (02.09.1999)
• "Rule of Definiton of Accounting and Reporting Rule of Insurance Brokers" (22.06.2000)
• "Rule of Determination of Sum Insured Compulsory Motor Third Party Liability" (21.09.2000)
• "Rule of Determining Marginal Correlation Between Insurer’s Assets and Liabilities for Implementing All Classes of Insurance" (Except Life Insurance)" (25.11.2001)
• "Regulation on Application of Sanctions (Including Financial Sanctions) Against Insurance Companies and Non-state Pension Scheme Violating the Normative Acts and Guidelines of the "Financial Monitoring Service of Georgia" Adopted on the Basis of the Law on Georgia "On Facilitating the Prevention of Illicit Income Legalization" (24.11.2004)
• "Rule of Adoption of Licensing Forms for Implementing Life and Non-life Insurance Business and Reinsurance Activity in Insurance Sphere on the Territory of Georgia" (27.12.2005)

• "Definition Rule for Essential Requirements of Authorized Capital of Founder of Pension Scheme" (05.10.1999)
• "Rule of Registration of Pension Scheme" (17.03.2000)
• "Rule of Pension Scheme" (17.03.2000)
• "Election Rule of the Members of Advisory Council of Founder of Pension Scheme" (03.10.2000)
• "Rule of formation of Insurance Reserves According to Life and Non-State Pension Insurance Classes" (10.04.2001)
• "Rule of Informing the Members of Non-State Pension Scheme Founders Observers Council" (12.07.2001)
• "Rule of Informing Participants of Pension Scheme, Observers Council and United State Fund of Social Security" (12.07.2001)
• "Rule of Pension Agreement" (21.03.2002)
• "Rule of Making a Dicision by Employers, Employers Union and Trade Union on Pension Scheme" (06.08.2002)
• "Rule on Valuation of Pension Gatherings" (27.03.2003)
• "Rule on Keeping a Register of Reporting of Pension Schemes, Participants of Non-State Pension Schemes and Depositors" (16.07.2004)
• "Marginal Correlation Between Insurer`s Assets and Assumed Insurance Liabilities (Life Insurance)" (10.10.2004)