The article provides arguments for the need to bring the legis- lation on insurance activities of the member States of the Commonwealth of Independent States closer together. Based on the industry approach and ty- pology of relations in the insurance sector, the issues of model rulemaking, its significance and difference from national acts are analyzed. The concept of the draft model law of CIS "On insurance activity", based on the study of modern state of legal regulation of social relations in the sphere of insurance and insurance activities, the existing legal approaches. It is proposed to in- clude General provisions on the implementation of insurance as a type of business activity, the basis for the activities of professional participants in the insurance market and ensuring their financial stability, issues of state regulation and supervision of insurance activities.