Kazakh regulator imposes 117 measures on insurers over payout delays in 2026
This digest was compiled by AI from multiple sources — links to the originals are below.
Kazakhstan's financial regulator imposed 117 measures and sanctions on insurance companies in January–July 2026, double the 58 recorded a year earlier. Most violations concerned insurance payouts, with late payment the most common breach. The regulator also identified cases of non-payment, incomplete payment, and delayed refusal notices.
Key Facts
- A late payout carries a fine of 100 MCI, equal to 432,500 tenge in 2026, under Article 229 part 1 of the Code of Administrative Offences.
- One insurer was fined 300 MCI, about 1.3 million tenge, for failure to provide information to the insurance database.
- In the January–July 2026 review, repeated payout violations pointed to internal process problems rather than isolated staff errors.
- The regulator also found violations in information and cybersecurity, mandatory motor third-party liability insurance direct settlement, and online contract website access.
- Additional violations were recorded in pension annuities, reporting, determining damage amounts, and executing insurance ombudsman decisions.
Payout Violations
The Agency for Regulation and Development of the Financial Market imposed 117 measures and sanctions on insurance organizations in January–July 2026, compared with 58 in the same period of 2025. The regulator said most of the 117 cases concerned insurance payouts, and late payment was the most frequent violation. Other payout breaches included failure to pay at all, incomplete payment, and late notification of refusal. Repeated violations indicate problems in internal processes at some insurers rather than isolated staff errors.
Penalties
A late insurance payout is punishable under Article 229 part 1 of the Code of Administrative Offences with a fine of 100 monthly calculation indices for legal entities. In 2026, 100 MCI equals 432,500 tenge. The regulator imposed a fine of 300 MCI, or about 1.3 million tenge, in one case of failure to properly provide information to the insurance database.
Other Violations
The regulator identified shortcomings in information and cybersecurity, including failure to assess information security risks according to the established methodology. In mandatory motor third-party liability insurance, insurers violated the direct loss settlement procedure. Some insurers' websites did not ensure uninterrupted online access for concluding mandatory insurance contracts. Additional violations were found in pension annuities, reporting, determining damage amounts, and executing decisions of the insurance ombudsman.
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Kazakh regulator imposes 117 measures on insurers over payout delays in 2026
