• The Central Bank identified irregularities in the sale of electronic insurance policies

  • Central Bank revealed violations at the largest Russian insurance companies when selling insurance policies. On Wednesday, may 17, said Deputy Chairman of the Bank of Russia Vladimir Chistyukhin, reports TASS.

    According to him, verification of the twelve largest insurers showed that to buy electronic insurance policy is very problematic. Violations identified from each organization, said Chistyukhin.

    "Each of them sent the instruction about elimination of the violations. At the expiration of the provisions of the Central Bank will assess the situation fixed," he said.

    The Russian Union of motor insurers (RAMI) forecasts a ninefold increase in the number of electronic insurance policies at year-end 2017. By mid-April, insurance companies have sold over a million policies in the current year.

    E-selling of insurance policies was permitted as a voluntary experiment on 1 July 2015. From 1 January 2017, it has become mandatory along with paper policies.


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