Business World Magazine: Russia: auto insurance reform being prepared

Business World Magazine

16.09.2016

Russia: auto insurance reform being prepared

Russia’s Finance Ministry has prepared major changes to the compulsory auto liability insurance, known in Russian as OSAGO. Among other amendments, the ministry has proposed to divide OSAGO policies into three types: an “economic package” with current limits of 400,000 rubles for damage to property and 500,000 rubles for injuries, a “standard” package with limits of 1 million rubles on both claims, and a “premium” package with payments of 2 million rubles

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