PRU(INT) 4.2(1): duty to vet the PI insurer is placed on 'the Insurance Intermediary' only, though the rule starts with 'an Authorised Firm'

PRU(INT) 4.2(1) reads: "Before an Authorised Firm takes out or renews a professional indemnity insurance policy with an insurer, the Insurance Intermediary must be satisfied ... that the insurer is a suitable Person to provide the insurance policy to the Insurance Intermediary". Under 1.3(1) "Authorised Firm" is used where rules apply to both Insurance Intermediaries and Insurance Managers. Read with the opening words, 4.2(2)-(3) and 1.3(1), the duty probably covers Insurance Managers too, but the text names only the Insurance Intermediary. In the release of 10 December 2017 the whole sentence referred to the Insurance Intermediary; the amendments as of 2 December 2018 changed only the opening words.

Proposed correction

Please replace both occurrences of "the Insurance Intermediary" in 4.2(1) with "the Authorised Firm".

Jurisdiction

Kazakhstan — AIFC

Act

AIFC Prudential Rules for Insurance Intermediaries

Place

PRU(INT) 4.2(1)

Record

Discrepancy

Class

Text of the act

Where it arose

The amending act

Arxo's conclusion

Confirmed

Official text

Unchanged at last check

Last checked

2026-10-24

Evidence

Contradiction within the text. Quotations are verbatim from the official material; translations are ours and marked.

Before an Authorised Firm takes out or renews a professional indemnity insurance policy with an insurer

the Insurance Intermediary must be satisfied, on reasonable grounds after conducting an appropriate assessment, that the insurer is a suitable Person to provide the insurance policy to the Insurance Intermediary

The term “Authorised Firm” is used where rules apply to both Insurance Intermediaries and Insurance Managers.

Before an Insurance Intermediary takes out or renews a professional indemnity insurance policy with an insurer, the Insurance Intermediary must be satisfied

How to check it without Arxo's tools

1. Open AIFC Prudential Rules for Insurance Intermediaries and find PRU(INT) 4.2(1); PRU(INT) 1.3(1). Compare the text with the quotation above. A copy is kept in this register: 95c1086b7275b201-aifc-prudential-rules-for-insurance-intermediaries.pdf (SHA-256 95c1086b7275b2017295e0ff412b026dca70f8f441cb325d3c9d5581c8fa4e93, copy of the official file).
2. Open AIFC Prudential Rules for Insurance Intermediaries (initial release) and find PRU(INT) initial release (10.12.2017), 4.2(1). Compare the text with the quotation above. A copy is kept in this register: 8738528f0e70835f-aifc-prudential-rules-for-insurance-intermediaries-initial-release.pdf (SHA-256 8738528f0e70835ff98ef80f7b5e8a23cfd99c833f2e92697151735145a45cd9, copy of the official file).
3. The finding holds if the quoted passages read as shown and the comparison gives the result stated at the top of this page. If it does not, write to us with the record ID.

How this finding was made

AI agents read the official texts, turned the provisions concerned into executable rules and ran the comparison; they also drafted this record. A person at Arxo checked the finding and approved the report before it was sent (2026-10-27).

Responsible institutions

• Astana Financial Services Authority (AFSA) — author of the AIFC Rules

Reported to

Responses

No response recorded.

Documents and reproduction

• AIFC Prudential Rules for Insurance Intermediaries
• AIFC Prudential Rules for Insurance Intermediaries (initial release)

History

1. 2026-10-24Confirmed by Arxo
2. 2026-10-27Entered in the register
3. 2026-10-27Reported to Astana Financial Services Authority (AFSA) (e-mail)

Cite this record

Arxo Law, Arxo Findings Register, ARXO-2026-0141, https://arxo.io/findings/ARXO-2026-0141/ (status as of 2026-10-24). Data: ARXO-2026-0141.json.