Insurers supported the reform of in-kind compensation for CTP

Amendments to the CTP law, which are being prepared for submission to the State Duma, will help increase the amount of compensation for policyholders who have used the insurance payment for repairs. The new system may become simpler, clearer and more user-friendly, Evgeny Ufimtsev, president of the Russian Union of Motor Insurers (RSA), said in a statement to Izvestia on May 20.

The RSA stated that they support the amendments to the CTP law. The main change, if adopted, will be the consumer's right to receive compensation for the cost of depreciation from the insurer in addition to the initial payment.

This opportunity will appear if the victim, after receiving the insurance payment, repaired the car at any car service station and this repair took place within nine months. After the repair, the victim provides a confirmation of the repair to the insurance company and, if the cost of the repair has exceeded the amount of compensation received, the insurer reimburses the amount of wear. It is deducted at the initial payment under the terms of the law, Ufimtsev said.

The recalculation will be carried out according to the methodology of the Bank of Russia. The consumer will retain the right to receive payment under the agreement simply with money and not to make repairs if the damage is insignificant and does not interfere with the use of the car, or the owner simply does not want to carry out repairs, the RSA noted. If the consumer nevertheless takes advantage of the innovations, he will be obliged to bring the repaired car for inspection within five days after the insurance claim, as well as to report hidden damages if they are discovered during the repair.

Who's new: Russians will be able to receive CTP payments without taking into account car wear

This will be possible if the initial compensation was not enough for self-repair.

The day before, Izvestia was informed by the Central Bank of the Russian Federation that they were going to maintain the car wear rate for CTP payments in Russia, otherwise its cancellation would entail a revision of tariffs. The regulator noted that now the main method of settlement of CTP is the payment of funds, taking into account depreciation.