In accordance with Article 28 of the Law of Ukraine “On Notary”
“In order to compensate the damage / harm resulting notarial acts of the functions of the state registrar of real estate rights in accordance with the Law of Ukraine “On state registration of rights to immovable property and their encumbrances” the private notary is obliged to start before work with private notarial activities to sign an insurance contract of civil legal responsibility“
The insurance agreement may be signed by a physical person who is engaged in private notarial activities (private notaries).
Notary activity is an activity carried out by the Insurer, according to the system of notaries in Ukraine and is governed by the Law of Ukraine “On Notary”, on the basis of the certificate Ministry of Justice of eligibility to notary and registration certificate.
Insurance protection extends to the civil liability of the Insured related to its notarial activities, carry out the functions of the state registrar of real estate rights in the Insurance Contract, namely:
Accidental damage caused to third parties due to negligence, mistakes inadvertently, improper notarial acts by the Insured and his staff.
The insured sum is determined by agreement of the parties at the conclusion of the Treaty, but in accordance with Article 28 of the Law of Ukraine “On Notary”: The minimum amount of insurance coverage is one thousand (1000) times the minimum wage:
In accordance with the Law of Ukraine “On State Budget of Ukraine for 2017” (Article 8) – set the minimum size of the RFP from 01.01.2017 is 3 200.00 UAH.
The size of the insurance rate depends on:
– The period of insurance;
– Experience of professional activity;
– Enforceability of notarial activity at the time of insurance;
– Choose the size of the insured sum (limit of liability);
– Select the size of the franchise;
– Break-even for previous years of insurance.