New rates for compulsory liability insurance of carriers come into force
26 February 2020
News
The Ministry of Justice has registered a Bank of Russia ordinance which sets new limits on the rates for the compulsory third party liability insurance of carriers.
The document lowers the minimum rates for most types of transport. For bus transport, the most popular type of transportation, rates may be reduced by up to 20%.
The range of rates will depend on the types of transport and transportation, as well as on factors of risk involved.
The new rates will become effective from 8 March 2020. The ordinance will come into force ten days after the official publication.
Preview photo: Sergey Bobylev / TASS