New CMTPLI rates approved
The Bank of Russia has expanded the range of insurance rates in compulsory motor third party liability insurance (CMTPLI), so that insurers have more opportunities to reduce rates for good drivers and raise them for high-risk drivers. The relevant Bank of Russia Ordinance was registered by the Ministry of Justice.
The expansion of the range of basic insurance rates both downwards and upwards will be as follows: by 10% for individuals’ cars; by 4.9% for public transport (regular passenger buses, trolleybuses and trams); and by 30% for other vehicles, including taxis.
Furthermore, the Bank of Russia has revised the coefficients depending on a driver’s age and driving experience and the bonus malus coefficients, as well as readjusted regional coefficients.
The Ordinance will come into force on 9 January 2022, except the provisions on the bonus malus coefficients to become effective on 1 April 2022.