The Central Bank intends to increase OSAGO tariffs for car owners from unfriendly countries

2023-06-19 18:36:45

The Bank of Russia plans to sharply increase tariffs for car owners from unfriendly countries when drawing up an OSAGO agreement for entering the territory of the Russian Federation. The changes will not affect passenger cars, follows from project guidelines regulator.

Changes are being made to the Central Bank’s instruction of December 8, 2021 “On insurance rates for compulsory insurance of civil liability of vehicle owners”.

As a result, for owners of passenger cars and owners of vehicles of any category from friendly countries, the territory coefficient will remain at the same level of 1.7. For other vehicles registered in unfriendly states, the coefficient increases immediately to 12.5.

“A new approach to determining the values ​​of CT was formulated by the regulator based on the results of relevant calculations, including in connection with the refusal of these states to accept Russian Green Card certificates from June 1, 2023,” explained the innovation in the press service of the Central Bank (quote according to TASS).

In addition, the document updates the values ​​of the coefficients of insurance rates, which are set depending on the territory of the predominant use of cars, including in connection with the entry of four new regions into the Russian Federation. For all categories of vehicles registered in the DPR, LPR, Kherson and Zaporozhye regions, the coefficient will be 0.68.

At the end of May, the Russian Union of Motor Insurers (RCA) said that from June 1, bilateral agreements on the mutual recognition of Green Card insurance certificates between the RCA and the insurance bureaus of the EU countries, Switzerland and the UK are terminated. Thus, the Green Cards issued in European countries have ceased to be valid in Russia. At the same time, Russian certificates will not work on the territory of the European Union, Great Britain and Switzerland. Insurance organizations cannot issue Green Cards with a validity period after May 31, 2023.

At the same time, for other countries, the Russian Green Card systems will work as usual. We are talking about such countries as Azerbaijan, Belarus, Moldova, Serbia and Turkey.