Procedure for receiving OSAGO insurance claim payments changed

The Bank of Russia is calling motorists’ attention to the changed procedure for receiving OSAGO insurance claim payments due to the enforcement of amendments to the OSAGO legislation.

The affected party of a road traffic accident is now obliged to provide a damaged motor vehicle for the insurer’s inspection otherwise an insurance company may dismiss a motorist’s claim without prejudice.

It is binding on an insurance company to arrange the motor vehicle inspection and/or technical review and hold it within 5 business days after the insurance claim and related papers, stipulated in the rules, have arrived.

A motorist is not entitled to arrange an independent technical review by himself because its findings shall be deemed null and void for the purposes of calculation of insurance claim payments.

The Bank of Russia urges motorists not to assign the motor vehicle inspection and independent technical review to persons who are not representatives of the insurance company because in this case the risk of failure to receive the claim payment and that of sheer waste of time and money are high.