Compulsory insurance
Compulsory civil liability insurance for audit organisations
An audit opinion influences the decisions of owners, investors and banks. If a client suffers property damage because of an auditor's error, they have the right to claim compensation. The legislation of Kazakhstan requires audit organisations to insure their civil liability so that the injured party has a reliable source of payment. Insurance Center will help you calculate a policy and compare offers from licensed insurers.
Who must be insured
The obligation applies to audit organisations, i.e. legal entities that provide audit services. Individual auditors are not covered by this type of insurance. The contract is concluded for 12 months, so the policy must be renewed every year without any gap in protection.
A valid contract matters not only for legal compliance. Clients often check it when choosing an auditor, especially in tenders and procurement.
What the policy covers
The object of insurance is the property interests of the audit organisation related to its obligation to compensate for damage caused to a client or other persons in the course of audit activities.
What is usually covered
- property damage to the client caused by errors and omissions during the audit;
- losses related to an inaccurate audit report through the auditor's fault;
- damage acknowledged by the audit organisation with the insurer's consent or established by a court decision.
What is usually not covered
- intentional acts aimed at causing harm;
- non-pecuniary damage and lost profit, unless the contract provides otherwise;
- events outside the term of the contract;
- amounts within the deductible.
Sum insured and rate
The sum insured is set by agreement of the parties but may not be less than 10 000 MCI as of the contract date. The insurance premium is also agreed with the insurer, while the law caps its maximum. The law does not set a minimum rate or correction factors.
| Parameter | Legal requirement | In 2026 (MCI 4 325 ₸) |
|---|---|---|
| Minimum sum insured | at least 10 000 MCI | 43 250 000 ₸ |
| Insurance premium | no more than 4.5% of the sum insured | no more than 1 946 250 ₸ at the minimum sum |
| Deductible | no more than 5% of the sum insured | up to 2 162 500 ₸ at the minimum sum |
| Contract term | 12 months | — |
In the Insurance Center calculator you enter the sum insured and choose a deductible: none, 1%, 3% or 5% of the sum. A higher deductible usually lowers the premium, but the company covers part of each loss itself.
Important: the minimum sum is linked to the MCI as of the contract date. When the MCI changes in a new year, the minimum changes too, so when renewing the policy check that the sum meets the current requirement.
How to choose the sum insured
The law sets only the lower limit, so for many audit organisations the minimum sum is just a starting point. If the company audits large holdings, banks, subsoil users or high-revenue organisations, a possible claim may significantly exceed 43 250 000 ₸. Anything above the limit will have to be paid by the organisation itself.
When choosing the sum, it is useful to consider the size of typical clients, the number of audits per year, clients' requirements for proof of insurance and the claims history. The insurer sets the rate within the legal cap, taking into account, for example, revenue, the number of auditors and the loss ratio. That is why comparing several offers helps find the balance between the level of protection and the cost of the policy.
What to check
- whether the sum insured matches the minimum and the scale of your projects: for large clients it makes sense to take a limit above the mandatory one;
- the deductible amount and how it is applied to payouts;
- the start date of the contract, so that there is no gap between policies;
- the list of documents the insurer will request in an insured event;
- the deadlines for notifying the insurer of a claim.
How to get a policy
Quote on the Insurance Center website
Enter a sum insured of at least 10 000 MCI and choose the deductible to see an indicative premium.
Compare offers
We request rates from several insurance companies and show how their terms and prices differ.
Sign and pay
You choose an insurer, provide information about the organisation, sign the contract and pay the premium.
What to do in an insured event
- Once you receive a claim or lawsuit, notify the insurer immediately within the period set by the contract.
- Do not accept the claim or pay compensation without the insurance company's approval.
- Prepare the audit contract, audit report, working papers and correspondence with the client.
- Provide the insurer with documents confirming the amount of the claimed damage.
- Take part in the settlement and obtain the insurer's payout decision.
This material is for reference only; final terms are determined by the insurance rules and the contract.
How Insurance Center helps
Insurance Center is an insurance agency that compares offers from licensed insurers. We will select terms that meet the legal requirements, remind you about renewal and help with claims settlement. Get a quote online or call: +7 727 225 40-40.
