Law regarding Russian National Reinsurance Company adopted
Tuesday, 06 28 2016, Category: Insurance and Reinsurance, Country: Russia
The law regarding the establishment the Russian National Reinsurance Company has been adopted, on June 21, by the State Duma in the second and third session. The law passed without the amendments proposed previously by the Central Bank, to give the MTPL insurance line to the state reinsurer, in order to avoid interruption or a difficult access of drivers to MTPL policies in a several regions of the country.
The law is providing the obligation of ceding a mandatory 10% quota of the risks to the state reinsurer, which will not apply on the risks of compulsory types of insurance (MTPL, Green Card insurance and life insurance).