The Supreme Court confirmed the existence of collusion between the largest 14 insurers for CTP

The Supreme Court confirmed the existence of collusion between the largest 14 insurers for CTP


MOSCOW, December 10. The Supreme court upheld the decision of Rostov OFAS due to collusion between the 14 largest insurance companies of Russia. The sum of imposed fines amounted to more than 48 million rubles. This is stated in the message of Federal Antimonopoly service (FAS).

All the participants are in the TOP 20

“In February 2014 after numerous complaints of citizens to difficulties at the conclusion of the contract CTP initiated a case against these insurance companies. Motorists impose additional voluntary insurance contract CTP”, – stated in the message Department.

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© Yuri Spituk/TASS

Owners of e-insurance policies don’t will need to show DPS the paper version of the policy

FAS explains what car owners on the territory of several municipal districts of the Rostov region there was nowhere to turn for insurance policy, as all insurance companies “carried out a uniform, synchronized actions that violate the antitrust laws”.

It affected the companies “Ingosstrakh”, “Rosgosstrakh”, “URALSIB”, “SG “MSK”, “MAX”, “SK “Northern Treasury”, “SC “Consent”, “GUTA-Insurance” “Alfa insurance”, “FAC”, “IC “ENI”, “SG “ASKO”, “GSK “Yugoria” and “RESO-Garantia”.

All the participants are in the TOP 20 insurance organizations in the country and have branches in almost all regions of Russia.

In February 2014, the FAS filed a case against these companies, after numerous complaints of citizens to difficulties at the conclusion of the contract CTP.

Subsequently, the Commission Rostov UFAS recognised the company violated the Federal law “On protection of competition”.

CTP you can now buy online

From 1 October, the Russian motorists have the opportunity to buy a new policy via the Internet.

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© ITAR-TASS/ Sergei Bobylev

The presence of CTP policies will be checked automatically in 2016

Up to this point insurers could only prolong the current policy via the Internet from your insurer, reported earlier by the press service of the Russian Union of motor insurers (RAMI).

The PCA advises citizens to carry a printout of the e-policy as it is stipulated in the SDA.

The Union predicts the growing popularity of E-insurance policies after October 1, but acknowledged that while the share of e-policies in total sales of CTP does not exceed 1%, and the situation is unlikely to change dramatically in the foreseeable future.

The opportunity to purchase electronic policies for legal entities will appear later, from 1 July 2016.

On the liberalization of tariff

As previously reported, in the system of compulsory third party liability insurance (CTP) started to transition to the liberalization of tariff that can definitely lead to an increase in the cost of the policy up to 30%, experts say.

Insurers believe that the persistent increase in the rate of CTP does not solve the problems in this segment, therefore the rate of release and to make it free – from liberalization will benefit all parties to the process.

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© Yuri Spituk/TASS

The CTP market: the situation in the regions and forecasts

For the first time in more than 10 years of existence of CTP in Russia the rate on this type of insurance was changed in October last year. Then the tariff on CTP was increased by 23-30%. However, the increased the payout limit for property damage from 120 thousand rubles to 400 thousand rubles. Following adjustment of the rate occurred on April 12 of this year. The Bank of Russia increased the tariff by 40%, and expanded the tariff corridor to 20% (the boundary within which companies can compete on the cost of the policy). Thus, in some regions, the CTP has become more expensive for car owners to 60%, as most insurers sold insurance policies at the upper boundary of the tariff corridor.

Despite the fact that the CBR has twice increased the rate of CTP in less than one year, the participants of the insurance market continued to insist on the loss ratio of this segment, and the number of companies either turned to insurance sales, or have refused this business. In the course of this year insurers again began to speak about the need to liberalize the rate of CTP.