The Central Bank has approved new tariffs CTP

The Central Bank approved the first phase of liberalization of the insurance

The Central Bank has approved the expansion of a new range of base rates and coefficients for tariffs. Now to calculate the coefficients of “age – experience” and the basic tariff rates will be new. Recall that in the case of the concept of “age – experience” will be introduced 58 coefficients count (currently 4), and the expansion of the corridor of the base rates for insurance will increase by 20% in both directions, in the direction of increase or decrease, thus the corridor will expand to 2.746-4.942 rubles. The decree was approved by the Board of Directors of the Bank of Russia.

“The Board of Directors of the Bank of Russia approved the instruction on the size limit of base rates and factors of insurance tariffs for mandatory vehicle insurance, as well as the procedure for their application by insurers when determining insurance premiums. In the near future the document will be sent for registration to the Ministry of justice,” reads the website of the Central Bank of the Russian Federation.

For a more complete justification for the introduction of the first phase of the so-called “liberalization of the insurance” the Bank of Russia explained that they aimed at increasing the availability of insurance policies and the transition to a system where each driver pays for itself, and the rate is fair and for each individual motorist.

Read more. For example, the actuarial calculations for the experienced drivers older KVS will be reduced, while young and inexperienced was increased. Thus, the most risky combination of the age and experience factor will be equal to 1.87; for the least risky combination (motorists older than 59 years with experience more than 3 years) the ratio will actually be two times less – 0,93, which will create favorable conditions for persons of retirement age, according to the website cbr.ru.

Finally, the reforms will affect the coefficient of bonus-Malus (MSC). First, the new system involves binding of MSC to the driver (today the rate “tied” to the vehicle) that is definitely more logical option. Secondly, it will appoint once a year April 1 without conversion during the year. During a break in driving to reset the MSC will not, and all the accumulated discounts will continue. On transport vehicles of legal entities the MSC will be the same for all vehicles in the fleet.

Read more on the topic read the following articles on pages the Internet-editions 1GAI.RU:

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