The Bank of Russia supported the draft law of the Ministry of Finance on increasing the limit of payments in case of harm to life and health under OSAGO up to 2 million rubles and canceling the accounting of wear and tear of vehicle parts. This will lead to an increase in compensation for victims, an improvement in insurance coverage for those responsible for road accidents, and will also make it impossible to recover the difference in the price of a new and worn part through a court from the culprit.
By increasing the limit of payments for life and health four times, the price of the policy may increase by at least 21%, or on average by 1123 rubles, and the abolition of accounting for wear of parts may require an increase in the tariff by 27%, that is, by about 1444 rubles, was estimated at Central Bank. They are sure that these changes should be driven in stages – first, increase the limit on payments, and not earlier than a year later – cancel the accounting of depreciation.
Insurance companies also supported the initiative. The increase in limits will allow the victims to receive a fair amount of compensation and will not affect the stability of insurers, said Pavel Nefedov, director of the underwriting and product management department of the Soglasie insurance company. According to him, this change will lead to an increase in the cost of compulsory motor third party liability insurance by 20%, and the abolition of accounting for wear of parts – by another 40%. The first measure is planned to be taken from January 1, 2023, added Ilya Solomatin, Deputy General Director for External Relations of Ingosstrakh.
More details – in the exclusive material of Izvestia:
Mega policy: the Central Bank estimated the rise in price of compulsory motor third party liability insurance at 48%
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
