Rights and Obligations of the Members


MEMBERS OF THE ASSOCIATION

New members are free to join/leave the Association. The term “Association Member” refers to an insurance company that operates in accordance with the current legislation of Ukraine, is listed in the State Register of Financial Institutions, holds a license authorising the engagement in insurance activities, and agrees to fulfil the duties assigned thereto by the constituent documents of the Association. Participation in the Association involves acknowledgement of the Association’s goals and objectives. Membership in the Association is based on non-discriminatory principle.

Membership in the Association is acquired by an insurance company on the basis of a decision adopted by the Executive Body of the Association, except for the membership of the Founders of the Association.

The relations between the Association and its Members as well as their mutual rights and obligations are regulated by the Charter and the internal documents of the Association.

 

Rights and Obligations of the Association Members.

Association Members have the right to:

  • participate in the General Meeting of the Association, discuss issues on the agenda of the General Meeting of the Association, vote at the General Meeting of the Association
  • make proposals regarding any issues included in the agenda of the General Meeting of the Association in the manner determined in accordance with the internal regulations of the Association and concerning the Association’s activities, including proposals for appointment or removal of individual members of the management and control bodies of the Association
  • receive reports and information regarding the activities of the Association, its operating bodies as well as information regarding the plans and programs of the Association, including the expenditure of the Association’s funds
  • contact the Executive Body, the management, and the control bodies of the Association regarding any issues related to its activities
  • use the services of the Association
  • receive assistance from the Association in resolving issues related to the statutory activities of the Association
  • at the invitation of the Supervisory Board of the Association, make proposals with regard to the agenda and participate in discussion of issues on the agenda of the latter in accordance with the procedure established under the internal regulations of the Association governing any aspects of its activity
  • use the logo of the Association in accordance with the Regulations governing the use of the Association’s logo
  • receive legal assistance and advisory support regarding the statutory activities of the Association within the framework of consideration of issues concerning the common legitimate interests of the Association Members by the state bodies and public associations
  • participate in the target programs/activities of the Association in accordance with the terms and conditions determined by the Charter and the internal documents of the Association
  • participate in contests, seminars, exhibitions, conferences, and other events held by the Association.

Association Members shall:

  • comply with the requirements of the provisions of the Charter of the Association, decisions of the General Meeting, and internal documents of the Association and take the relevant recommendations into account
  • participate in the implementation of the statutory objectives of the Association
  • fulfil their obligations toward the Association, including those related to financing of its activities; pay admission and membership fees determined by the Charter and the Regulations governing Membership Fees of the Association in full and in timely manner
  • actively contribute to resolution of issues that are provided by the constituent documents
  • refrain from disclosing commercial and confidential information regarding the activities of the Association classified as such by the Executive Body of the Association
  • refrain from actions that might undermine trust in the insurance market and harm the Association’s business reputation
  • at the request of the Association, promptly provide documents and information regarding the relevant Member’s activities that are necessary for the Association to carry out its statutory activities, as well as independently inform of the change in information regarding the Association Member that was provided upon acquisition of the membership in the Association
  • protect the good name and reputation of the Association
  • contribute to the achievement of the goals and objectives of the Association and refrain from any actions that may harm prestige of the Association or its Members or contradict the goals and objectives of the Association
  • adhere to the principles of conduct, standards, rules, and good practices during the carrying out of the activities by the Association Members both in relation to other Association Members and to third persons

The members, founders, employees, members of the governing bodies of the Association, and other related persons shall receive neither direct income nor profits from the declared activities of the Association.