The package of changes to the CTP and approved by the Government
The Cabinet has continued to change CTP: 4 important improvements
The Ministry of Finance introduced a Federal bill “On amendments to certain legislative acts of the Russian Federation”. The purpose of the bill, as mentioned on the website of the Government of the Russian Federation, – enforcement of legislation on compulsory insurance of civil liability of owners of vehicles in compliance with other Federal laws subject to enforcement. This will allow to improve the system of compulsory insurance of civil liability of vehicle owners (CTP).
Paper policies = policies electronic
Reviewed and approved at the Government meeting June 28, the bill includes the changes in the circulation of insurance policies, in particular paper insurance policies (on paper) equalized in status with e-insurance policies (in the form of electronic documents). They will be recognized as a single species of insurance policies drawn up in writing in accordance with the Civil code.
The head of the Government Dmitry Medvedev stressed the importance of introduced changes. First, it eliminates double counting. Secondly, there will be no need of making policies on special protected forms. Each document will have a unique serial number. This unique number will allow to identify the insurer and confirm the accuracy of the policy.
Will lifted the ban on reinsurance
It is proposed to lift the ban on reinsurance for compulsory insurance*. The document notes that “compulsory insurance of civil liability of owners of vehicles is currently the only form of property insurance, risks which are not transferred to reinsurance.”
“Meanwhile, over the years, the Federal law on compulsory insurance of civil liability of vehicle owners, the volume of collected insurance premiums increased almost 10 times. Of course, increased the number of motorists, so we have today the risks are much bigger than 15 years ago when this law was adopted. Therefore, it is necessary to make reinsurance insurance common practice”, said Medvedev.
* Reinsurance (cession) – is a redistribution of the excess risk between the insurers, in which the first insurer accepts from the policyholder all the risk under their own responsibility, further redistributing it among themselves and other insurers.
Insurance will not be able to require the relatives of the deceased pedestrian money
Reviewed regressive demand to the person responsible for the caused material harm. It is proposed not to allow such a requirement to the guilty in dorozhno-transport incident the pedestrian who violated traffic rules was injured in the crash, received a “wound, injury or died in traffic accidents, and also to his relatives and heirs”.
Read more here: Insurance companies can’t demand money from the pedestrians responsible for an accident
Foreigners will be obliged to insure
When crossing the state border, foreign drivers must have an insurance policy or insurance agreement of civil liability of owners of vehicles in the framework of international insurance systems (international insurance). Inspecting them will do the customs officers.