The restriction of the license of Rosgosstrakh for insurance on CTP

27 of May. Yesterday, the Central Bank of the Russian Federation issued an order restricting the license of Rosgosstrakh for insurance for CTP.

A Central Bank spokesman explained that these restrictions are associated with the failure of the Society within the prescribed period, the requirements of the Central Bank in violation of the procedure for the conclusion of contracts of automobile liability insurance, in particular, the use of the coefficient of bonus-Malus in the calculation of the insurance premium.

The representative of the Bank of Russia also noted that the violations LLC "Rosgosstrakh" the current legislation, in particular, the imposition of additional services, unreasonable refusal in the conclusion of the contract, failure to provide discounts for trouble-free operation, were massive.

"For the period from 1 of April to 25 of may 2015 in the Central Bank of Russia has received more than 2,300 complaints from citizens on the actions of LLC "Rosgosstrakh". From the beginning, the organization was granted 385 regulations of the Bank of Russia", - said the representative of the Central Bank.

According to the Central Bank in respect of LLC "Rosgosstrakh" issued more than 70 decisions on bringing the Society to administrative responsibility for unreasonable refusal to conclude a public contract of insurance or the imposition of additional services at the conclusion of the contract of compulsory insurance.

License restriction means a prohibition on concluding OSAGO agreements, amending existing contracts, causing the increase of liabilities. Under the previously concluded contracts the company is obliged to take the statements about the occurrence of insured events and to fulfill the obligations of the insurance company. Payments CTP, implemented by the RGS will be monitored by the Bank of Russia.

CB representative said that if citizens encounter problems signing contracts, receiving payments, they should contact the office of the Bank of Russia on protection of rights of financial services consumers and minority shareholders.

We will remind that since 12 of April, the average base rate for CTP has increased by 40%. The tariff increase was part of the reform of the insurance system.

From 12 April the Central Bank started monitoring the situation in the OSAGO market in the regions for proper control over the provision of insurance services to the population.