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There has been changed the procedure for formation of insurance reserves on public liability insurance of vehicle owners


There has been changed the procedure for formation of insurance reserves on public liability insurance of vehicle owners
2009-11-13 06:00

NEWS OF THE FEDERAL LEGISLATION

There has been changed the procedure for formation of insurance reserves on public liability insurance of vehicle owners

By the Order of the Ministry of Finance of Russia N 101n of October 1, 2009 (document is in Russian), the amendments are made to the Rules of formation of insurance reserves on insurance different from life-insurance approved by the Order of the Ministry of Finance of Russia N 51n of June 11, 2002 (document is in Russian). The amendments have specified the procedure for increasing of the stabilization reserve on obligatory public liability insurance of vehicle owners and have determined the procedure for calculation of its limit size during the period from January 1, 2010 till December 31, 2012.

The Order shall putt into effect since January 1, 2010.


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