Following the monitoring of rates in compulsory carrier third-party liability insurance, the Bank of Russia plans to expand the range of insurance rates. As a result, it will become possible to reduce insurance rates for responsible and safe carriers, and raise rates for high risk carriers.
For regular bus transportation, which is the most popular mode of carriage, the lower bound of the range will be lowered by 15%, and for other types of public transport, including trolleybuses and trams, as well as for railways — by 25%. The upper bound will be raised by 25%.
Rates in compulsory carrier liability insurance depend on transport types and modes of carriage, and on the factors influencing the level of risk.
This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, please see the Source Link.