Legal basis of activity

Belgosstrakh carries out its activity in compliance with the legislation of the Republic of Belarus and the Charter, approved by the Decree of the Council of Ministers of the Republic of Belarus dated November 26, 1993, No. 806 "On Certain Issues of the Belarusian State Insurance Company" (with alterations and amendments).

The subject of activity of Belgosstrakh is insurance, investment and other insurance-related activities carried out with the aim of obtaining additional income and guarantees of fulfilment of insurance obligations.

Belgosstrakh is one of the basic methodological centres of the national insurance market. The Decree of the Council of Ministers of the Republic of Belarus dated May 18, 2002, No. 638 "On Increasing the Methodological and Practical role of Belgosstrakh Belarusian Republican Unitary Insurance Company" has defined that Belgosstrakh renders methodological and practical assistance to the Republican governmental authorities and organizations, subordinated to the Government of the Republic of Belarus, in drafting normative legal acts, regulating the issues of obligatory insurance.

The insurance activities are carried out on the grounds of Special Permit (License) dated December 10, 2003, No. 02200/0447076, issued by the Ministry of Finance of the Republic of Belarus. The License is valid till December 10, 2008.

The Special Permit (License) of Belgosstrakh on insurance activity provides an opportunity to carry out more than 45 types of obligatory and voluntary insurance: starting with the most popular and widespread types and passing to the most exclusive and individualized ones. It allows to develop, in every particular situation, an individual system of insurance protection for each client.

The insurance in foreign currencies is carried out on the grounds of annually obtained Permit on carrying out currency transactions between the subject of currency transactions and an individual person with the use of foreign currencies. In 2005, the insurance in foreign currencies is carried out on the grounds of the Permit dated December 14, 2004, No. 07-1-11/2503, effective till December 15, 2005.