Aggregated News From Investment Management Regulators

Bank of Russia recalculates rates in compulsory liability insurance for hazardous facility owners

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The Bank of Russia has recalculated rates in compulsory liability insurance for the owners of hazardous facilities in the case of damage inflicted due to an accident. Insurance rates depend on the type of a hazardous facility and the factors influencing the level of risk.

According to the findings of the analysis, the lower bound of the range of insurance rates may be considerably reduced by 50% for the majority of hazardous facility types. As regards waterworks and some types of pressure equipment, the range of insurance rates is to be expanded, with its lower bound decreased by 25%, and its upper bound raised by 25%.

This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, please see the Source Link.

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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