The Ministry of Finance opposed an increase in CMTPL insurance payout limits
The Russian Finance Ministry has given a negative opinion on the initiatives to increase the limits of payments under CMTPL insurance and to introduce compensation for damage in the absence of a policy of the accident perpetrator. This was reported in the press service of the Ministry on January 30.
"The increase in the limits of CMTPL insurance payments will require an increase in the size of the prime rates of insurance tariffs by about 10% for all vehicle owners. This will create a threat to the financial stability and solvency of insurers and will lead to a decrease in the level of accessibility of MTPL insurance," - said the Ministry of Finance.
On January 20, the head of the State Duma Committee on Labor, Social Policy and Veterans Affairs Yaroslav Nilov (LDPR) told about the development of the relevant bill. He proposed to increase the limit of insurance payments under CMTPL from Br500 thousand to Br650 thousand in terms of compensation for injury to life and health of victims and from Br400 thousand to Br520 thousand in terms of property damage.
The deputy noted that the current amounts of insurance compensation under the MTPL contract have not changed for 10 years. However, over the past years, both insurance rates and the cost of spare parts, repair, as well as medical services have grown seriously.
Also, the Ministry of Finance said that the introduction of compensation in the absence of MTPL at the perpetrator of the accident will increase the burden on the reserves of insurance companies. This will lead to an increase in the cost of MTPL for the rest of the citizens.
"The task of reducing the number of cases of driving without MTPL insurance is key, but its solution should not be achieved by increasing the rates of conscientious car owners. To address the issue of non-fulfillment of the obligation to conclude a contract of CMTPL insurance may be considered other measures, for example, the introduction of cameras of photo-video fixation of the presence of a contract of CMTPL insurance", - emphasized in the Ministry.
On January 27, the boundaries of the tariff corridor for CMTPL insurance for some types of vehicles were expanded, these changes were announced earlier by the Bank of Russia. According to the Central Bank's instruction, the price corridor has been extended by 20% for motor vehicles and trucks with an authorized maximum weight of 16 tons, as well as by 11.57% for public transport - trolleybuses, streetcars, buses.
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