Conclusion of OSAGO agreements in insurers’ offices: regulator clarifies
Car owners should be able to buy an insurance policy immediately as long as they have provided the insurer with all documents required for making compulsory motor third-party liability insurance (OSAGO) agreements. The Insurer may not refuse them under the pretext that a particular employee in the insurer’s office has no relevant authorities. This follows from the regulator's information letter.
Analysis of consumer complaints filed with the Bank of Russia showed that some insurers refused to sell OSAGO insurance policies on the day of application because the application form and documents were allegedly accepted by employees who were not empowered to conclude OSAGO agreements. The Bank of Russia finds such practice unacceptable and has started to apply supervisory measures to those insurers who resort to it.
In its letter the regulator reminds that an insurer may refuse to conclude an OSAGO agreement immediately if there are some errors in the applicant’s documents or the set of documents he or she has provided is incomplete, of which the insurer is to inform the applicant at once. If the documents are fine and the car owner is prepared to pay for the insurance policy, the insurer should not refuse to issue it. According to the law, insurers’ offices should provide such services during their working hours without any exception.