Insurers have proposed a new procedure for replacement of insurance policies

Car owners don’t have simultaneously to change all insurance policies to new in July 2016. This previously insisted the Russian Union of motor insurers, but argued the Bank of Russia.

That the PCA no longer insists on a one-time replacement policy on all new, Thursday, February 25, at a press conference following the meeting of the Presidium of the Russian Union of insurers said the Executive Director of the Russian Union of insurers (RAMI) Evgenie Ufimtsev. According to him, from July 1, 2016, motorists will be able to exchange the old policy for a new one, but such duties will not see them.

“We heard the wishes of the Bank of Russia on a phased replacement,” said Ufimtsev. From 1 July 2016 all insurance companies will have to obtain new forms of insurance policies, but the old policy be withdrawn from circulation will not, he added.

PCA has previously taken the initiative to replace all CTP policies with new ones to stop the sale of fakes. “It is important that the insurance policy gave the police the possibility of visual inspection: now too many fakes, which the employee is not able to detect. New forms will be more secure, the traffic police will be able to see him, to be sure that this policy is real, not fake,” he added.

According to Ufimtseva, PCA assumes that from 1 July 2016, the policies on older forms, the police check will be mandatory through the base of the automated information system of the Russian Union of insurers. “If a motorist wants to avoid the attention of the police, then he can come and change the old to a new form in the office of the insurance company,” said Ufimtsev, adding that the insurance contract will continue to apply.

Earlier, the President of the PCA and the Russian Union of insurers (VSS) Igor Jurgens said that from 1 July 2016 “assumes instantaneous replacement of old forms for new CTP” (quoted by “Interfax”).

Later information that car owners have a lump sum to change forms of existing insurance policies, denied in the state, the Ministry of Finance and the Central Bank. “No one-stage replacement of existing policies will not be against this decision, the Bank of Russia protested very hard. Motorists who come to buy insurance policies in the offices of insurance companies and just get a slightly different view on the policy”, — said Vladimir Chistyukhin, adding that “such a procedure has happened in the past year and was absolutely still and unbeknownst to the owners”.