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The Central Bank will introduce a compulsory electronic insurance policies from 2017

ЦБ введет обязательные электронные полисы ОСАГО с 2017 года

The Bank of Russia proposes to oblige all insurers operating on the OSAGO market, to conclude contracts in electronic form from 1 January 2017. The relevant information contains in the message of the regulator.

“The electronic sale of insurance policies was launched in Russia on 1 July 2015. However, the execution of the contract in electronic form is a right and not an obligation of the insurance company” — indicates the Central Bank and notes that are now electronic policies offer 15 of 81 companies, operating on the market of compulsory motor insurance.

“The initiative of the Bank of Russia are aimed primarily at improving the availability and quality of services CTP, because the owners can purchase a policy at any time, any place”, — said the Chairman of the Central Bank Vladimir Chistyukhin.

It is also noted that the regulator is preparing the relevant amendments to the legislation, which will be promptly agreed upon with the Ministry of Finance and submitted to the state Duma during the spring session.

Earlier, on 17 March, the Executive Director of the Russian Union of motor insurers (RAMI) Evgenie Ufimtsev has suggested to carry out regular replacement of insurance policies. “Everyone said that if this replacement goes well and correctly, then most likely it will be to do regularly. Here is the money, rubles, — Goznak changes the degree of protection or introduces new things every three years. Probably not good that insurers can’t do that”, — he explained.

On 11 February it was reported that the Presidium of the PCA adopted a decision to replace all forms of insurance policies from 1 July 2016. PCA President Igor Yurgens emphasized that such a replacement will be made as a measure of combating the spread of fake forms.

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